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Pensions Bill

With this it will be convenient to discuss the following amendments: No. 29, in clause 3, page 2, line 28, leave out subsection (5) and insert— ‘( ) Subsection (2) does not apply if there are prescribed arrangements under which the jobholder is entitled to become an active member, with effect from the automatic enrolment date, of a qualifying scheme which is a personal pension scheme of a prescribed description. ( ) An order will be made under this section to prescribe the terms under which it is applicable, and the basis on which its application may be withdrawn with respect to specific scheme providers or employers.’. No. 20, in clause 70, page 34, line 25, after ‘in’, insert ‘existing’. No. 21, in page 34, line 25, leave out ‘qualifying’ and insert ‘occupational and personal pension’. No. 17, in page 34, line 26, at end insert ‘among those on low incomes and who are not currently saving enough for retirement.’. No. 22, in page 34, line 26, at end insert ‘, and the Authority shall at no time seek to provide financial products beyond the scope of personal accounts;’. No. 23, in page 34, line 29, after ‘on’, insert ‘existing’. No. 24, in page 34, line 29, leave out ‘qualifying’ and insert ‘occupational and personal’. No. 18, in page 34, line 38, at end insert— ‘(g) the best interests of prospective members in the period prior to 2012 are served; (h) the level of savings shall be increased as well as the number of existing savers, and that in general better retirement incomes are achieved.’. No. 19, in page 34, line 41, at end insert— ‘(4) The Secretary of State shall collect and publish appropriate data annually, and will consult with the industry, to measure the extent to which the Authority has achieved these principles in carrying out its function. (5) The Secretary of State shall by regulation identify the data and targets to be sued for this purpose.’.