New Clause 7 - Investment powers

Pension Schemes Bill – in a Public Bill Committee at 3:00 pm on 4th November 2014.

Alert me about debates like this

‘(1) Regulations may make provision about—

(a) the investment powers of the trustees or managers of a pension scheme in connection with collective benefit investments;

(b) their powers to delegate decisions in connection with collective benefit investments (including provision as to liability for delegated decisions);

(c) the investment powers of any person to whom they have delegated decisions in connection with collective benefit investments.

(2) The regulations may, in particular—

(a) make provision corresponding or similar to any provision made by section 34 or 36 of the Pensions Act 1995 (powers of investment and delegation and choice of investments for occupational trust-based schemes);

(b) disapply those sections in relation to collective benefit investments.”.—(Steve Webb.)

This replaces clause 24 (which is left out by amendment 45) and contains additional material about investment powers in relation to collective benefits.

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