Proceeding contribution from Lord McKenzie of Luton (Labour) in the House of Lords on Tuesday, 7 October 2008. It occurred during Debate on bill on Pensions Bill.
Pensions Bill
My Lords, if the noble Lord will permit me, I can go through the detail of the calculation. I have not done it myself, but I asked about the maximum amount of interest, assuming that opt-out is at the last minute and that the refund takes the maximum time to be completed—two paydays or 21 days, whichever is shorter. That is the current proposition. I had asked for the calculation on the basis of the maximum interest that would accrue in that scenario. It is relatively modest, as I have pointed out.
Secondary information
- Type
- Proceeding contribution
- Reference
- 704 c145
- Session
- 2007-08
- Chamber / Committee
- House of Lords chamber
- Subjects
- Contributions Advisory services Fixed penalties Investment Information Insolvency Ethics Personal income Pay Workplace pensions Pensions Personal pensions Pension funds Pension rights Pensions Ombudsman Tribunals Small businesses Tax allowances Taxation Pensions Regulator Personal Accounts Delivery Authority Occupational money purchase schemes National employment savings trust scheme
- Legislation
- Pensions Bill 2007-08
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- Timestamp
- 2025-01-13 12:50:25 +0000
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- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_497295
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