Commentary on Sections Schedule 10: Use and supply of information: private pensions policy and retirement planning
858.Paragraph 1 amends section 3 of the Social Security Act 1998 to extend the uses to which information held by the Secretary of State or the Department for Social Development in Northern Ireland can be put. The effect is that information held by the Secretary of State or Department for Social Development in Northern Ireland for purposes relating to social security, child support or war pensions or employment or training can be used for purposes related to private pensions policy or promoting financial planning for retirement. Also, information held by the Secretary of State or the Department for Social Development in Northern Ireland for purposes related to private pensions policy or promoting financial planning for retirement can be used for purposes relating to social security, child support or war pensions or employment or training.
859.Private pensions policy is defined (in this context and in the rest of the Schedule) as policy relating to occupational pension schemes or personal pension schemes.
860.Paragraph 2 allows information held by the Commissioners of the Inland Revenue or Customs and Excise (or persons providing services to them) to be supplied to the Secretary of State or the Northern Ireland Department (or persons providing services to them) for use for functions relating to private pensions policy and promoting financial planning for retirement.
861.An authorised officer is defined as an officer of the Secretary of State or the Northern Ireland Department authorised by the Secretary of State or the Northern Ireland Department.
862.Paragraph 3 amends section 122D of the Social Security Administration Act 1992 to allow the Secretary of State to use information relating to housing benefit or council tax benefit for purposes relating to private pensions policy or promoting financial planning for retirement.