Part of Pensions Bill – in a Public Bill Committee am 1:30 pm ar 21 Chwefror 2008.
James Plaskitt
Parliamentary Under-Secretary, Department for Work and Pensions
1:30,
21 Chwefror 2008
This is indeed an important matter and I am grateful to the two hon. Members who have just spoken on it. As I said, the new Clause would replicate for personal accounts the effect of provisions in the Welfare Reform and Pensions Act 1999. Pension sharing was a flagship policy of the Government’s first pensions reform and the arrangements in the 1999 Act will apply to the personal accounts scheme, as they do to all other occupational pension schemes. Given that the Act provides already for pension sharing for occupational schemes, we have not duplicated the provisions in the Bill.
If a couple divorces and the court makes a pension sharing order, the trustees of a scheme will arrange for the former spouse or civil partner to be awarded a pension credit, which will be a share of the member’s pension rights. The trustees will then discharge the pension credit into a pension scheme in the former spouse’s name, who will then become a pension credit member of that scheme.
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
