New Clause 34 - Consultation by employers: occupational pension schemes

Pensions Bill – in a Public Bill Committee at 10:30 am on 27th April 2004.

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'(1) Regulations may require any prescribed person who is the employer in relation to an occupational pension scheme and who—

(a) proposes to make a prescribed decision in relation to the scheme, or

(b) has been notified by the trustees or managers of the scheme that they propose to make a prescribed decision in relation to the scheme,

to consult prescribed persons in the prescribed manner before the decision is made.

(2) Regulations may require the trustees or managers of an occupational pension scheme not to make a prescribed decision in relation to the scheme unless—

(a) they have notified the employer of the proposed decision, and

(b) they are satisfied that the employer has undertaken any consultation required by virtue of subsection (1).

(3) The validity of any decision made in relation to an occupational pension scheme is not affected by any failure to comply with regulations under this section.

(4) Section (Further provisions about regulations relating to consultation by employers) contains further provisions about regulations under this section.'.—[Malcolm Wicks.]

Brought up, read the First and Second time, and added to the Bill.