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Proceeding contribution from Baroness Hollis of Heigham (Labour) in the House of Lords on Tuesday, 17 June 2008. It occurred during Committee of the Whole House (HL) and Debate on bill on Pensions Bill.

Pensions Bill

My question is triggered by the contribution of the noble Lord, Lord Skelmersdale. I had assumed—this may be an error on my part—that a qualifying scheme would, nonetheless, not be disqualified by virtue of the fact that one could retire earlier than state pension age. If I am wrong in that assumption, what then happens to the tax-free lump sum, which at the moment one can draw aged 50? It is going up to 55 in 2010. If the noble Lord’s fears are valid—which I hope they are not—does that suggest that different rules must therefore apply to the tax-free lump sum and when one may draw it?

Secondary information

Type
Proceeding contribution
Reference
702 c943 
Session
2007-08
Chamber / Committee
House of Lords chamber
Subjects
Conditions of employment Directors Age Contributions Advisory services Women Liability Income tax Information Employment agencies Pensioners Personal savings Pay Workplace pensions Pensions National insurance contributions Pension funds Low pay Temporary employment State retirement pensions Young people Small businesses Tax allowances Repayments Taxation Tax rates and bands National employment savings trust scheme
Legislation
Pensions Bill 2007-08
Link
View this Proceeding contribution on www.publications.parliament.uk