The Northern Ireland Assembly is in Recess until the 30th of August. The Business Committee will meet on the 1st of September and the First Plenary Sitting is the 7th of September.

Pensions Bill - Call for Evidence

Pensions Bill

The purpose of the Pensions Bill is to make provision for Northern Ireland corresponding with the Westminster Pensions Act 2011.

The Bill has five parts:

  • Part 1 (which includes Schedules 1, 2 and 3) introduces provisions for amending the State Pension framework. This includes bringing forward the equalisation of State Pension age and the increase to age 66.
  • Part 2 contains measures to amend the automatic enrolment provisions for workplace pension schemes. This includes –
    • the introduction of an earnings trigger at which an employee must be automatically enrolled into a workplace pension and new up-rating provisions for the qualifying earnings band on which contributions are made;
    • the introduction of an optional waiting period of up to three months before the automatic enrolment duty commences; and
    • changes to the way an employer can certify that their pension scheme meets the necessary quality test.
  • Part 3 (which includes Schedule 4) contains amendments regarding indexation and revaluation requirements for occupational pensions. Part 3 also contains provisions relating to the Pension Protection Fund and the Pensions Regulator and includes minor technical amendments to previous pensions legislation.
  • Part 4 contains amendments regarding Money Purchase Benefits.
  • Part 5 contains miscellaneous and technical measures.

 

 Any organisation or individual with an interest in this consultation is invited to submit evidence to the Committee by e-mail to committee.socialdevelopment@niassembly.gov.uk or by post to:

Committee Clerk, Room 412, Parliament Buildings, Ballymiscaw, Stormont, Belfast BT4 3XX.

The evidence must be structured to address the specific clauses of the Bill .

If you do not have access to the internet or e-mail facilities or you have any other enquiries, please contact the Committee Clerk on 028 9052 1864.

Pleasing note: The closing date for submissions was 20 February 2011.

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