Public Service Pensions and Judicial Offices Bill — New Clause 1 — Guidance to Public Service Pension Scheme Managers on Investment Decisions — 22 Feb 2022 at 15:45
The majority of MPs voted for ministers to require managers of new public service pension schemes not to undertake certain investments due to UK foreign and defence policy.
The proposed new clause rejected in this Bill was titled: Guidance to public service pension scheme managers on investment decisions and stated:
- (1) The Public Service Pensions Act 2013 is amended in accordance with subsection (2).
- (2) In schedule 3, paragraph 12(a), at end insert “including guidance or directions on investment decisions which it is not proper for the scheme manager to make in light of UK foreign and defence policy”.
The rejected new clause was accompanied by the following statement from its proposer:
This new clause would enable the Secretary of State to issue guidance to those authorities that administer public sector pension schemes, including the local government pension scheme, that they may not make investment decisions that conflict with the UK’s foreign and defence policy.
Had it not been rejected the amendment would have amended Paragraph 12(a) of schedule 3 to the Public Service Pensions Act 2013.
Section 3 of the Public Service Pensions Act 2013 gave ministers the powers to make regulations they considered appropriate. The schedule gave an indication of types of matter which could be covered by regulations establishing new public sector pension schemes. The presence of a power in the list may be expected to encourage, and perhaps empower, a minister to use it.
-  Parliament's webpage on the Public Service Pensions and Judicial Offices Bill, Parliament.uk
-  Public Service Pensions and Judicial Offices Bill, as amended in Committee, 27 January 2022, Parliament.uk
-  Explanatory notes to the Public Service Pensions and Judicial Offices Bill, 7 December 2021, Parliament.uk
-  Section 3 of the Public Service Pensions Act 2013, Legislation.gov.uk
-  Explanatory notes to Schedule 3 of the Public Service Pensions Act 2013, Legislation.gov.uk
Votes by party, red entries are votes against the majority for that party.
What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.
What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.
What is Turnout? This is measured against the total membership of the party at the time of the vote.
|Party||Majority (Aye)||Minority (No)||Both||Turnout|
|Con||290 (+2 tell)||0||0||80.7%|
|SNP||0||35 (+2 tell)||0||82.2%|