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New Clause 4 — Transitional

Concessionary Bus Travel (Amendment) – in the House of Commons at 9:00 pm on 18th October 2011.

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‘(1) The Secretary of State may by regulations make transitional provision in relation to the coming into force of the amendments in section [Definition of money purchase benefits].

(2) That provision includes in particular—

(a) provision disapplying the amendments in section [Definition of money purchase benefits] in relation to an occupational or personal pension scheme which is wound up before the coming into force of that section;

(b) provision disapplying the amendments in section [Definition of money purchase benefits] to any extent, or as regards any period, in respect of an occupational or personal pension scheme in relation to which those amendments would otherwise have applied on the coming into force of that section;

(c) provision modifying the application of an enactment in respect of an occupational or personal pension scheme in relation to which the amendments in section [Definition of money purchase benefits] apply on the coming into force of that section;

(d) provision requiring trustees or managers of an occupational pension scheme in relation to which the amendments in section [Definition of money purchase benefits] apply on the coming into force of that section to obtain an actuarial valuation of a description specified in the regulations.

(3) In subsection (2) “occupational pension scheme” and “personal pension scheme” have the meanings given by section 1 of the Pension Schemes Act 1993.’—(Steve Webb.)

Brought up, and added to the Bill.