Viscount Younger of Leckie:

Moved by Viscount Younger of Leckie

That this House do agree with the Commons in their Amendments 49 to 53.

49: Insert the following new Clause—“Operation of employer cost cap in relation to 2016/17 valuation(1) The requirement in provision made under section 12(5)(a) of PSPA 2013 that the cost of a section 1 scheme must remain within a margin above the employer cost cap of the scheme does not apply, and is treated as never having applied, in relation to the cost of the scheme that is calculated by reference to the scheme’s 2016/17 valuation. (2) Accordingly, provision made under section 12(6) of that Act does not apply, and is treated as never having applied, in relation to a case in which the cost of a section 1 scheme that is calculated by reference to the scheme’s 2016/17 valuation goes beyond a margin above the employer cost cap of the scheme.(3) In subsections (1) and (2) and this subsection—(a) “section 1 scheme” means a scheme under section 1 of PSPA 2013;(b) “the employer cost cap”, in relation to a section 1 scheme, has the same meaning as in section 12 of PSPA 2013;(c) a reference to a section 1 scheme’s “2016/17 valuation” is to the scheme’s valuation under section 11 of PSPA 2013 the effective date of which is a date in 2016 or 2017.(4) The requirement in provision made under section 12(5)(a) of PSPA(NI) 2014 that the cost of a section 1 scheme must remain within a margin above the employer cost cap of the scheme does not apply, and is treated as never having applied, in relation to the cost of the scheme that is calculated by reference to the scheme’s 2016/17 valuation.(5) Accordingly, provision made under section 12(6) of that Act does not apply, and is treated as never having applied, in relation to a case in which the cost of a section 1 scheme that is calculated by reference to the scheme’s 2016/17 valuation goes beyond a margin above the employer cost cap of the scheme.(6) In subsections (4) and (5) and this subsection—(a) “section 1 scheme” means a scheme under section 1 of PSPA(NI) 2014;(b) “the employer cost cap”, in relation to a section 1 scheme, has the same meaning as in section 12 of PSPA(NI) 2014;(c) a reference to a section 1 scheme’s “2016/17 valuation” is to the scheme’s valuation under section 11 of PSPA(NI) 2014 the effective date of which is a date in 2016 or 2017.(7) The actuarial valuation with an effective date of 31 March 2016 that was signed on 18 December 2018 under regulation 123 of the Local Government Pension Scheme Regulations (Northern Ireland) 2014 (S.R. (N.I.) 2014 No. 188) is of no effect.”

50: Clause 84, page 62, line 20, at end insert—“(6A) In section 8 of PSPA 2013 (types of scheme), after subsection (4) insert—“(4A) The extent to which a scheme under section 1 is a career average revalued earnings scheme is not affected by provision contained in scheme regulations that is made under section (Power to pay final salary benefits) of PSPJOA 2022 (local government schemes: power to pay final salary benefits).””

51: Clause 84, page 63, line 18, at end insert—“(13A) In section 8 of PSPA(NI) 2014 (types of scheme), after subsection (4) insert—“(4A) The extent to which a scheme under section 1 is a career average revalued earnings scheme is not affected by provision contained in scheme regulations that is made under section (Power to pay final salary benefits) of PSPJOA 2022 (local government schemes: power to pay final salary benefits).””

52: Clause 86, page 66, line 37, leave out Clause 86

53: After Clause 89, insert the following new Clause—“Amendments relating to pension schemes for members of the SeneddIn section 30 of PSPA 2013 (new public body pension schemes), after subsection (4) insert—“(4A) The following provisions of this section do not apply to a new public body pension scheme which is made under section 20(3) of the Government of Wales Act 2006 (remuneration of members of the Senedd: pensions)—(a) subsection (1)(e) (cost control);(b) subsection (3) (Treasury consent).””

Motion agreed.