UK Parliament / Open data

Pensions Bill

Committee of the Whole House (HL) and Debate on bills on Wednesday, 6 June 2007, in the House of Lords.
Pensions Bill. Lords Committee stage second day. Clauses 17 and 18 agreed to. Clauses 15 and 16 agreed to as amended. Schedule 4 agreed to as amended. Schedule 5 agreed to. Clause 19 under consideration. Part 1 of 2 records.

About these Parliamentary proceedings

Reference

692 c1130-95 

Session

2006-07

Legislative stage

Committee stage

Procedure

Government defeats
New clauses

Chamber / Committee

House of Lords chamber

Related items

Pensions Bill. Brought from the Commons. Explanatory Notes HL Bill 61-EN also published.
Thursday, 19 April 2007
Bills
House of Lords
Financial Assistance Scheme Regulations 2005
Wednesday, 22 June 2005
Statutory instruments
House of Lords
House of Commons

Proceeding contributions

Lord Skelmersdale | 692 c1136 (Link to this contribution) This may be a rather nitpicking point, but in the amendment subsection (3)(a) of new Section 50B say...
Lord McKenzie of Luton | 692 c1133-5 (Link to this contribution) moved AmendmentsNos. 55 to 61: 55: Schedule 4, page 46, line 16, leave out ““or”” 56: Schedule 4...

Show all contributions (68)
Lord McKenzie of Luton | 692 c1135-6 (Link to this contribution) moved AmendmentNo. 62: 62: Clause 16, page 20, leave out lines 26 to 33 and insert— ““““(3) The pr...
Lord Hunt of Wirral | 692 c1136-8 (Link to this contribution) moved Amendment No. 65: 65: After Clause 18, insert the following new Clause— ““Minimum retirement...
Lord Skelmersdale | 692 c1138-9 (Link to this contribution) My name is attached to the amendment because my noble friend Lord Hunt is absolutely spot on. For se...
Lord Skelmersdale | 692 c1136 (Link to this contribution) I am told that the word is transposition.
Lord McKenzie of Luton | 692 c1136 (Link to this contribution) The noble Lord is as eagle-eyed as ever. I may just have to ponder a little to give him a full expla...
Lord McKenzie of Luton | 692 c1133 (Link to this contribution) moved AmendmentsNos. 50 to 52: 50: Clause 15, page 19, leave out lines 10 to 15 51: Clause 15, p...
Lord McKenzie of Luton | 692 c1133 (Link to this contribution) moved AmendmentNo. 53: 53: Schedule 4, page 46, line 8, at end insert— ““In section 20 (transfer o...
Lord Oakeshott of Seagrove Bay | 692 c1133 (Link to this contribution) Far be it from me to join this genuine or implied collusion. I am sure there is none, but I will lea...
Lord McKenzie of Luton | 692 c1130-1 (Link to this contribution) My Lords, I beg to move that the House do now again resolve itself into Committee on this Bill. Mov...
Lord McKenzie of Luton | 692 c1131-2 (Link to this contribution) moved AmendmentNo. 49: 49: Clause 15, page 19, line 1, leave out subsection (2) The noble Lord sa...
Lord Skelmersdale | 692 c1132-3 (Link to this contribution) I tabled Amendment No. 54 in the spirit of inquiry to elicit the sort of information that the Minist...
Lord Oakeshott of Seagrove Bay | 692 c1195 (Link to this contribution) moved Amendment No. 79: 79: After Clause 18, insert the following new Clause— ““Financial Assistan...
Lord Brabazon of Tara | 692 c1195 (Link to this contribution) Does the noble Lord, Lord Oakeshott, wish to move Amendment No. 80 formally?
Baroness Morgan of Drefelin | 692 c1193-5 (Link to this contribution) I am grateful to my noble friend for raising the important issue of the part the Government play in ...
Baroness Hollis of Heigham | 692 c1195 (Link to this contribution) I am extremely grateful to my noble friend. She has taken on board the substance of the point that t...
Baroness Hollis of Heigham | 692 c1191-3 (Link to this contribution) moved Amendment No. 77: 77: After Clause 18, insert the following new Clause— ““Application for pe...
Baroness Morgan of Drefelin | 692 c1195 (Link to this contribution) This might be an appropriate moment to resume the House. In doing so, I suggest that we resume the C...
Baroness Hollis of Heigham | 692 c1195 (Link to this contribution) It is not possible to accept Amendment No. 80 because a decision has already been made on a conflict...
Lord Turnbull | 692 c1167-9 (Link to this contribution) The Conservatives have joined forces with the Liberal Democrats in tabling Amendments Nos. 68 to 73,...
Baroness Hollis of Heigham | 692 c1169-72 (Link to this contribution) I hope that the Committee will resist these amendments. The present situation has been shaped by two...
Lord James of Blackheath | 692 c1172-3 (Link to this contribution) Provided that I am in order, I wish to speak to Amendment No. 69 in this group. It performs the esse...
Lord Skelmersdale | 692 c1165 (Link to this contribution) I think that the noble Lord was here throughout the entirety of Monday, when I got some implied crit...
Lord Howarth of Newport | 692 c1165-6 (Link to this contribution) The noble Lord seems to be a little selective in his application of these principles. He asked the C...
Baroness Greengross | 692 c1166 (Link to this contribution) I support these amendments and do so simply on the grounds of fairness and justice. It is totally un...
Baroness O'Cathain | 692 c1166-7 (Link to this contribution) Following the noble Baroness, Lady Greengross, I am moved, first, to ask for confirmation that the p...
Lord Oakeshott of Seagrove Bay | 692 c1162-4 (Link to this contribution) I am delighted to stand shoulder to shoulder with the Conservatives on this amendment, and I am equa...
Lord Howarth of Newport | 692 c1164-5 (Link to this contribution) One would have to be stony-hearted not to be moved by the letters we have received and the deeply un...
Lord Skelmersdale | 692 c1159-62 (Link to this contribution) moved Amendment No. 68: 68: After Clause 18, insert the following new Clause— ““Financial assistan...
Lord Hunt of Wirral | 692 c1155-6 (Link to this contribution) This has been a very important debate and I am very grateful to everyone who has contributed. I hope...
Lord Hunt of Wirral | 692 c1158-9 (Link to this contribution) moved Amendments Nos. 66 and 67: 66: After Clause 18, insert the following new Clause— ““Retiremen...
Lord McKenzie of Luton | 692 c1153-5 (Link to this contribution) Indeed we do, as noble Lords will see if they look at what has happened to the annuities market in r...
Baroness Hollis of Heigham | 692 c1151 (Link to this contribution) I cannot support these amendments because of the way in which they are framed, but, in principle, if...
Lord McKenzie of Luton | 692 c1151-2 (Link to this contribution) My answer to that is no, because the Government’s starting point is, as I said, that the deal on pen...
Lord McKenzie of Luton | 692 c1150-1 (Link to this contribution) The figures that I gave related to annuity pots and the percentage of people who benefited from thos...
Lord Blackwell | 692 c1151 (Link to this contribution) If the Minister’s major concern is the tax loophole, can he envisage our discussing tax arrangements...
Lord Skelmersdale | 692 c1150 (Link to this contribution) Before the noble Lord moves on, he has just given figures for today’s annuity rates. Can he give the...
Lord Higgins | 692 c1150 (Link to this contribution) That is not what I asked. I asked how small this group of people is.
Lord McKenzie of Luton | 692 c1150 (Link to this contribution) The people who could benefit from these arrangements are those who have significant pension pots. Re...
Lord Fowler | 692 c1150 (Link to this contribution) Surely the Government’s whole purpose is to try to create this kind of pot. The noble Lord is lookin...
Lord McKenzie of Luton | 692 c1150 (Link to this contribution) Of course we want that to happen, but I am not looking backwards; I am looking at where we are and a...
Lord Higgins | 692 c1150 (Link to this contribution) The noble Lord said that only a small group of people are affected. I ask him for the third time how...
Lord McKenzie of Luton | 692 c1150 (Link to this contribution) The people who could use these arrangements are those in the 3 per cent group with pension pots in e...
Lord McKenzie of Luton | 692 c1147-9 (Link to this contribution) I welcome the debate, although I feel a little lonely. I missed out on the debate in 2004—I had just...
Lord McKenzie of Luton | 692 c1150 (Link to this contribution) I was going to raise this in relation to what my noble friend Lady Hollis said, but today’s average ...
Baroness Hollis of Heigham | 692 c1143-4 (Link to this contribution) I, too, have a lot of sympathy with these amendments. I am not sure that I support them in the form ...
Lord Higgins | 692 c1144-5 (Link to this contribution) When I retired from the opposition Front Bench as spokesman for work and pensions after eight years,...
Lord Fowler | 692 c1141-2 (Link to this contribution) The noble Lord has a selective stomach for a fight. I am sorry to say this to him because I am norma...
Lord Turner of Ecchinswell | 692 c1142-3 (Link to this contribution) Compulsory annuitisation was not discussed by the Pensions Commission, essentially because there wer...
Baroness Howe of Idlicote | 692 c1147 (Link to this contribution) At Second Reading I was rather dubious about the benefits of raising the age at which you could take...
Lord Howarth of Newport | 692 c1145-6 (Link to this contribution) The arguments have been laid out very powerfully. My noble friend Lady Hollis has come among us unmu...
Lord Blackwell | 692 c1146 (Link to this contribution) I wish to speak briefly to the four amendments in this group in the names of my noble friends. For t...
Lord Fowler | 692 c1141 (Link to this contribution) I am rather amazed by that speech. I seem to remember that at Second Reading the noble Lord, Lord Oa...
Lord Oakeshott of Seagrove Bay | 692 c1141 (Link to this contribution) It was the stomach for the fight for exactly this amendment, which we could have won last time when ...
Lord Oakeshott of Seagrove Bay | 692 c1139-41 (Link to this contribution) I feel a considerable sense of déjà vu in this debate. The compulsory taking of annuities was the ke...
Baroness Turner of Camden | 692 c1174-5 (Link to this contribution) I have some difficulty with this series of amendments. First, I have considerable sympathy for the p...
Baroness Howe of Idlicote | 692 c1173-4 (Link to this contribution) I support the amendment along the lines of the views expressed by my noble friend Lady Greengross. W...
Lord James of Blackheath | 692 c1173 (Link to this contribution) Yes, I am, and I express my appreciation to the Government for what I can only describe as a charact...
Lord Oakeshott of Seagrove Bay | 692 c1177 (Link to this contribution) Given the appalling delays we have had for all these years, why has it taken so long for the Governm...
Lord McKenzie of Luton | 692 c1175-7 (Link to this contribution) This Government introduced FAS, which introduced the PPF. There was nothing near it under the previo...
Lord Skelmersdale | 692 c1175 (Link to this contribution) The Minister does not exactly encourage me to do that. I remind him that this Government have been i...
Lord McKenzie of Luton | 692 c1175 (Link to this contribution) The Government have great sympathy with all pensioners who lost out in very unfortunate circumstance...
Lord Skelmersdale | 692 c1188-91 (Link to this contribution) moved Amendments Nos. 69 to 76: 69: After Clause 18, insert the following new Clause— ““Financial ...
Lord Skelmersdale | 692 c1185-6 (Link to this contribution) I am grateful to all Members of the Committee who have spoken in this debate. Many of your Lordships...
Lord McKenzie of Luton | 692 c1177-85 (Link to this contribution) I have tried to outline the difficulties in getting payment through the system more quickly. My nobl...
Lord Turner of Ecchinswell | 692 c1147 (Link to this contribution) Perhaps I may add two comments. First, I support and reiterate the words of the noble Lord, Lord Bla...

Subjects

Assets
Annuities
Investment
Insolvency
Government assistance
Financial assistance scheme
Personal savings
Workplace pensions
Pensions
Pension funds
Pension Protection Fund
Married people
Pension rights
Overseas residence

Legislation

Pensions Bill 2006-07

Link

View this Parliamentary proceeding on www.publications.parliament.uk
Back to top