Amendment text
Test text
Proposed amendments
40 amendments across 19 provisions
Clause 1 1
Clause 8 1
Amendment text
at end insert—
the impact of a collective money purchase scheme on private and public sector defined benefit schemes.”
the impact of a collective money purchase scheme on private and public sector defined benefit schemes.”
Clause 9 1
Amendment text
at end insert—
that the scheme provides for intergenerational fairness among its members, specifically in connection with the amount of benefits paid to pensioners, proposed adjustments to annual benefits and cash equivalent values provided to members wishing to transfer out of the scheme.”
that the scheme provides for intergenerational fairness among its members, specifically in connection with the amount of benefits paid to pensioners, proposed adjustments to annual benefits and cash equivalent values provided to members wishing to transfer out of the scheme.”
Clause 11 3
Amendment text
leave out “Subsequent regulations under subsection (3)(a), and”
Amendment text
leave out “The first”
Amendment text
leave out subsection (8)
Clause 12 2
Amendment text
leave out subsection (5)
Amendment text
leave out “The first”
Clause 13 2
Amendment text
leave out subsection (9)
Amendment text
leave out “The first”
Clause 14 5
Amendment text
at end insert—
Regulations under subsection (3) must include provision for the scheme to hold a capital buffer in an amount to be specified by the Secretary of State.”
Regulations under subsection (3) must include provision for the scheme to hold a capital buffer in an amount to be specified by the Secretary of State.”
Amendment text
after “scheme”, insert “or by an employer”
Amendment text
leave out subsection (6)
Amendment text
leave out “The first”
Amendment text
at end insert—
specifying requirements to be met by an employer using or intending to use a qualifying scheme under section 3(3) in respect of the costs under subsection (2) of this section.”
specifying requirements to be met by an employer using or intending to use a qualifying scheme under section 3(3) in respect of the costs under subsection (2) of this section.”
Clause 15 2
Amendment text
leave out subsection (7)
Amendment text
leave out “The first”
Clause 16 4
Amendment text
at end insert—
processes for regular member data accuracy audits, reporting of error rates in member records and reporting on resolution of any errors.”
processes for regular member data accuracy audits, reporting of error rates in member records and reporting on resolution of any errors.”
Amendment text
leave out subsection (6)
Amendment text
leave out “The first”
Amendment text
at end insert—
processes for regular member data accuracy audits, reporting of error rates in member records and reporting on resolution of any errors.”
processes for regular member data accuracy audits, reporting of error rates in member records and reporting on resolution of any errors.”
Clause 17 2
Amendment text
leave out subsection (11)
Amendment text
leave out “The first”
Clause 18 3
Amendment text
leave out subsection (4)
Amendment text
at end insert—
rules for ensuring fairness among all members of the scheme.”
rules for ensuring fairness among all members of the scheme.”
Amendment text
at end insert—
rules for determining the risk margin to be applied to adjust the transfer value to be paid in respect of a member who has made an application for cash equivalent to account for long-term risks of the scheme’s underperformance and to mitigate inter-generational risks.”
rules for determining the risk margin to be applied to adjust the transfer value to be paid in respect of a member who has made an application for cash equivalent to account for long-term risks of the scheme’s underperformance and to mitigate inter-generational risks.”
Clause 25 1
Amendment text
at end insert—
If the trustees receive an application under section 95 relating to money purchase benefits that are collective money purchase benefits, the trustees must check that the member or survivor has received appropriate independent advice before—
If the trustees receive an application under section 95 relating to money purchase benefits that are collective money purchase benefits, the trustees must check that the member or survivor has received appropriate independent advice before—
The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.
Clause 27 1
Amendment text
leave out “The notice” and insert “Any such notice must include the requirement that trustees make an assessment of the extent to which the scheme is operating in a manner fair to all members and”
Clause 28 1
Amendment text
Insert the following new Clause—
“Duty to notify the Pensions Regulator: fit and proper persons requirement
“Duty to notify the Pensions Regulator: fit and proper persons requirement
Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.
Clause 31 1
Amendment text
after “concern” insert “or decides to withdraw from the scheme”
Clause 46 4
Amendment text
at end insert—
Regulations under subsection (1) must ensure that any information published relating to the scheme must clearly and prominently state that benefits that may be payable under the scheme are only targets and not guaranteed, and that benefits paid may vary, increasing or decreasing from time to time.”
Regulations under subsection (1) must ensure that any information published relating to the scheme must clearly and prominently state that benefits that may be payable under the scheme are only targets and not guaranteed, and that benefits paid may vary, increasing or decreasing from time to time.”
Amendment text
at end insert—
require information to be made available to the Pensions Regulator relating to actions taken by the scheme to ensure diversity considerations are taken into account in the recruitment of the trustee board with regard to—
require information to be made available to the Pensions Regulator relating to actions taken by the scheme to ensure diversity considerations are taken into account in the recruitment of the trustee board with regard to—
The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.
Amendment text
at end insert—
require information to be published relating to actions taken by the scheme with regard to how scheme investments take environmental, social, and governance factors into account.”
require information to be published relating to actions taken by the scheme with regard to how scheme investments take environmental, social, and governance factors into account.”
Amendment text
at end insert—
require information to be published relating to actions taken by the scheme to ensure diversity considerations are taken into account in the recruitment of the trustee board with regard to—
require information to be published relating to actions taken by the scheme to ensure diversity considerations are taken into account in the recruitment of the trustee board with regard to—
The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.
Clause 47 1
Amendment text
leave out subsection (5)
Clause 51 1
Amendment text
Lord Sharkey gives notice of his intention to oppose the Question that Clause 51 stand part of the Bill.
Clause 107 4
Amendment text
after “person” insert “wilfully, recklessly or unscrupulously”
Amendment text
leave out lines 33 and 34
Amendment text
at end insert—
In determining whether a person had a reasonable excuse under subsection 2(c) the factors to be considered include—
In determining whether a person had a reasonable excuse under subsection 2(c) the factors to be considered include—
The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.
Amendment text
leave out lines 35 and 36 and insert—
no reasonable person having regard to all of their duties and all relevant circumstances would have done the act or engaged in the course of conduct.”
no reasonable person having regard to all of their duties and all relevant circumstances would have done the act or engaged in the course of conduct.”