Pensions Bill — 15 Nov 2004 at 17:12
moved Amendments Nos. 52 to 55:
Page 136, line 8, leave out "levy or"
Page 136, line 11, leave out "levy or"
Page 136, line 12, leave out "levy or"
Page 136, line 26, leave out "a pension protection levy or" and insert "pension protection"
On Question, amendments agreed to.
Clause 177 <[i>Supplementary provisions about pension protection levies]:
moved Amendments Nos. 56 to 58:
Page 136, line 35, leave out "a levy or"
Page 136, line 38, leave out "levy or"
Page 136, line 41, leave out "any pension protection levy" and insert "the pension protection levies"
On Question, amendments agreed to.
Clause 179 <[i>The levy ceiling]:
moved Amendments Nos. 59 to 61:
Page 137, line 35, leave out "a levy is or"
Page 137, line 38, leave out "a levy is or"
Page 137, line 42, leave out "a levy is or"
On Question, amendments agreed to.
Clause 181 <[i>Pension protection levies during the transitional period]:
moved Amendment No. 62:
Page 139, line 29, at end insert-
"( ) If the transitional period begins with a date other than 1st April, regulations may provide that any provision of this section or of sections 176 to 180 applies, with such modifications as may be prescribed, in relation to-
(a) the period beginning at the same time as the transitional period and ending with the following 31st March, and
(b) the financial year which begins immediately after that period."
On Question, amendment agreed to.
Clause 183 <[i>Cases where fraud compensation payments can be made]:
moved Amendments Nos. 63 and 64:
Page 141, line 37, at end insert "and"
Page 141, line 45, leave out from "event" to end of line 46.
On Question, amendments agreed to.
moved Amendment No. 65:
Before Clause 240, insert the following new clause-
"REMOVAL OF COMPULSION TO TAKE ANNUITIES
Notwithstanding any statutory provision or rule of law to the contrary, the requirement for pensioners to take their pension in the form of an annuity, together with the requirement to do so by the age of 75, shall cease to have effect, provided that the pensioner can demonstrate that he has resources to ensure that he will not become dependent on means-tested benefits."
On Question, Whether the said amendment (No. 65) shall be agreed to?
*Their Lordships divided: Contents, 198; Not-Contents, 144.
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