Pensions Bill

Part of the debate – in the House of Lords at 6:05 pm on 27 October 2008.

Alert me about debates like this

Photo of Lord Fowler Lord Fowler Conservative 6:05, 27 October 2008

moved Amendment No. 75:

Before Clause 123, insert the following new Clause—

"Parliamentary pension scheme member-nominated trustees

(1) After section 241 of the Pensions Act 2004 (c. 35) (requirement for member-nominated trustees) insert—

"241A Parliamentary pension scheme: member-nominated trustees

(1) This section applies to a scheme which is set up under section 2 of the Parliamentary and other Pensions Act 1987 (power to provide for pensions for Members of the House of Commons etc).

(2) The requirements of section 241 shall apply to the trustees of such a scheme subject to the following modifications.

(3) Section 241(2) shall be read as if for paragraph (b) there were substituted—

"(b) are selected as a result of a ballot in which all the eligible scheme members are given the opportunity to vote.""

(2) Regulation 2(i) of the Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 2006 (S.I. 2006/714) is revoked."