The Public Service Pensions Bill begins committee stage, line by line scrutiny of the bill, in the House of Lords today (Wednesday 9 January).
Lords will begin by examining issues including the establishment of new pension schemes and their governance by a scheme manager and pension board.
Public Service Pensions Bill summary
The bill sets out the new arrangements for the creation of schemes for the payment of pensions and other benefits. It provides powers to ministers to create such schemes according to a common framework of requirements.
The bill provides powers to the Treasury to set specific technical details of certain requirements. It also gives powers to the Pensions Regulator to operate a system of independent oversight of the operation of these schemes.
It is intended that the powers in the bill will supersede powers in existing legislation to create schemes for the payment of pensions and other benefits.
The bill protects the benefits already earned by members of existing public service pension schemes and allows continued membership of those schemes for certain categories of person who are closest to retirement.
What is committee stage?
Detailed line by line examination of the separate parts (clauses and schedules) of the bill takes place during committee stage. Any member of the Lords can take part.
It usually starts no later than two weeks after the second reading and can last for one to eight days or more.
The day before committee stage starts, amendments (changes) are published in a marshalled list (amendments on related subjects are grouped together).
During committee stage every clause of the bill has to be agreed to and votes on the amendments can take place. All proposed amendments can be discussed and there is no time limit, or guillotine, on discussion of amendments.
Previous stages of the Public Service Pensions Bill