Moved by
Viscount Younger of Leckie
68: Clause 49, page 37, line 28, leave out subsections (2) to (4) and insert—
“(2) Where—
(a) the paid contributions amount for an in-scope tax year in respect of M’s remediable service in the judicial office, exceeds
(b) the payable contributions amount for that tax year in respect of that service,
the scheme manager must (directly or indirectly) pay an amount in respect of the difference to the appropriate person.
(3) Where—
(a) the paid contributions amount for an out-of-scope tax year in respect of M’s remediable service in the judicial office, exceeds
(b) the payable contributions amount for that tax year in respect of that service,
no amount is to be paid by the scheme manager in respect of the difference to the appropriate person.
(4) Where—
(a) the paid contributions amount for an in-scope or out-of-scope tax year in respect of M’s remediable service in the judicial office, is less than
(b) the payable contributions amount for that tax year in respect of that service,
the appropriate person must pay pension contributions in respect of the difference to the scheme.
(4A) A reference in this section to “the paid contributions amount” for a tax year in respect of M’s remediable service in a judicial office is a reference to the sum of—
(a) the aggregate of the pension contributions that (after taking into account the effect, if any, of section 47(2), (4) and (6)) have been paid under the scheme by M in the tax year in respect of so much of the service as was not PPA opted-out service, and
(b) where any of the remediable service was PPA opted-out service—
(i) the aggregate of the pension contributions and any voluntary contributions that have been paid by M under the partnership pension account in the tax year in respect of the PPA opted-out service, or
(ii) if lower, the aggregate of the pension contributions that (after taking into account the effect, if any, of section 39(2) to (5) or 42 (2)) were payable under the scheme by M for that tax year in respect of the PPA opted-out service.
(4B) A reference in this section to “the payable contributions amount” for a tax year in respect of M’s remediable service in a judicial office means the aggregate of the pension contributions that (after taking into account the effect, if any, of section 39(2) to (5) or 42 (2)) were payable under the scheme by M for that tax year in respect of the service.
(4C) In this section “the appropriate person” means—
(a) M, or
(b) if M is deceased, M’s personal representatives.”
Member’s explanatory statement
This amendment ensures that the treatment of contributions paid to a partnership pension account is properly accounted for; it is also one of a number of amendments clarifying or adjusting the processes and powers under Part 1 of the Bill so that they operate as intended in cases in which a member dies.
69: Clause 49, page 38, line 19, after “contributions” insert “or voluntary contributions”
Member’s explanatory statement
This amendment ensures that voluntary contributions paid to a partnership pension account are accounted for net of tax relief.