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Session 2007-08 Publications on the internet Other Bills before Parliament Bill Home Page

Index to Pensions Bill

INTRODUCTION THE BILL OVERVIEW TERRITORIAL EXTENT Territorial application: Wales Territorial application: Scotland COMMENTARY ON CLAUSES Clause 2: Continuity of scheme membership Clause 3: Automatic enrolment Clause 4: Postponement of automatic enrolment Clause 5: Automatic re-enrolment Clause 6: Jobholder's right to opt in Clause 7: Jobholder's right to opt out Clause 8: Information to be given to jobholders Clause 9: Information to be given to the Pensions Regulator Clause 10: Introduction of employers' duties Clause 12: Review of qualifying earnings band Clause 13: Pay reference period Clause 14: Qualifying schemes Clause 15: Automatic enrolment schemes Clause 16: Occupational pension schemes Clause 17: Personal pension schemes Clause 18: Quality requirement: UK money purchase schemes Clause 19: Quality requirement: UK defined benefit schemes 58.     Clause 19 provides that the quality requirement for defined benefits schemes depends on whether or not the jobholder is in contracted-out employment under the PSA 1993. Clause 22: Quality requirement: UK hybrid schemes Clause 23: Quality requirement: non-UK occupational pension schemes Clause 24: Quality requirement: personal pension schemes Clause 25: Power of trustees to modify by resolution Clause 26: Deduction of contributions Chapter 2: Compliance Clause 28: Compliance notices Clause 29: Third party compliance notices Clause 30: Unpaid contributions notices Clause 31: Calculation and payment of contributions Clause 32: Fixed penalty notices Clause 33: Escalating penalty notices Clause 34: Penalty notices: recovery Clause 35: Review of notices Clause 36: References to the Pensions Regulator Tribunal Clause 37: Offences of failing to comply Clause 38: Offences of providing false or misleading information Clause 40: Requirement to keep records Clause 41: Powers to require information and to enter premises Clause 42: Disclosure of information by Revenue and Customs Clause 43: Information for private pensions policy and retirement planning Clause 44: Penalty for disclosure Clause 45: Objectives of the Regulator Chapter 3: Protection of employment rights Clause 47: Enforcement of the right Clause 48: Right of employee not to be unfairly dismissed Clause 49: Restrictions on agreements to limit operation of this Part Chapter 4: Personal accounts Clause 51: Scheme orders: general Clause 52: Consultation of members and employers Clause 53: Contribution limits Clause 54: Procedure for scheme orders Clause 55: Procedure for rules Clause 56: Application of enactments Clause 57: Trustee corporation Schedule 1: The trustee corporation Clause 58: Functions Clause 59: Application of enactments Clause 60: Interpretation of Chapter Chapter 5: Personal Accounts Delivery Authority Clause 62: Principles Clause 63: Directions and Guidance Clause 64: Finance Clause 65: Disclosure of information by the Pensions Regulator Clause 66: Non-executive committee Clause 67: Winding up of the Authority Chapter 6: Stakeholder pension schemes Chapter 7: Interpretation Clause 70: Agency workers Clause 71: Crown employment Clause 74: Exception for reserve and volunteer forces           Clause 76: Extension of definition of worker Clause 77: Interpretation of Part Part 2: Simplification etc. Clause 79: Revaluation of accrued benefits etc Schedule 2: Revaluation of accrued benefits etc. Part 2 Part 3 Clause 80: Additional State Pension consolidation: Category A and graduated retirement benefit Schedule 3: Additional Pension consolidation Clause 81: State pension credit: extension of assessed income period for those aged 75 or over Part 3: Pension compensation on divorce etc Clause 83: Interpretation Clause 84: Activation of pension compensation sharing Clause 85: Creation of pension compensation debits and credits Clause 86: Cash equivalents Clause 87: Reduction of compensation Clause 88: Time for discharge of liability Clause 90: Discharge of liability Schedule 4: Pension compensation payable on discharge of pension compensation credit Part 2: Transferee attains pension compensation age before or on transfer day Part 3: Transferee attains pension compensation after transfer day Part 4: Provisions applicable irrespective of age of transfer day Clause 91: Charges in respect of compensation sharing costs Clause 92: Supply of information about compensation in relation to divorce etc. Clause 94: Pension compensation sharing and attachment on divorce etc Schedule 5: Pension compensation sharing and attachment on divorce etc: England and Wales Clause 95: Consequential amendment Chapter 2: Other provisions about pension compensation Schedule 6: Amendments to Schedule 7 of the Pension Act 2004 Part 4: Miscellaneous Clause 98: Interest on late payment of levies Schedule 7: Interest on late payment of levies Clause 99: Intervention by Regulator where scheme's technical provisions improperly determined Clause 100: Exclusion of transfers out in certain cases Clause 101: Official pensions: adjustment of increases in survivors' pensions Clause 102: War pensions: effect of later marriage or civil partnership Clause 103: Polish Resettlement Act 1947: effect of residence in Poland Part 5: General Clause 105: Orders and regulations: supplementary Clause 107: General financial provisions Clause 108: Repeals Clause 110: Extent FINANCIAL EFFECTS OF THE BILL Administrative costs EFFECTS OF THE BILL ON PUBLIC SERVICE MANPOWER SUMMARY OF THE IMPACT ASSESSMENT Impact on individuals Impact on employers Impact on government Impact on industry Competition impacts Impact on the macro economy Gender Impacts Disability impacts EUROPEAN CONVENTION ON HUMAN RIGHTS Part 1: Pension scheme membership for jobholders Part 2: Simplification etc Part 3: Pension compensation Part 4: Miscellaneous TRANSPOSITION NOTES

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