Amending the Pensions Bill

The proposal to retrospectively compensate employees whose pensions are wound up is likely to disincentivise employers from starting new schemes

When the Pensions Bill was first introduced into the House of Commons in February, it consisted of 248 clauses and 12 schedules, as compared to a mere 181 sections and 7 schedules in the Pensions Act 1995. During the committee stage from early March to the end of April, the Government added 36 new clauses and a new schedule. A further clause was added between leaving committee stage and the third reading, and at the third reading itself, which started on 18 May, the Government tabled 28 new clauses and 128 amendments. MPs were not given explanatory notes on these until the day before ...