The Finance Bill 2010-11 was presented to Parliament on 28 June 2010. This is known as First Reading and there was no debate on the Bill at this stage. The Bill will be on the House of Commons Order Paper for a Second Reading debate on 6 July 2010.

At the time of writing the contents of the Bill were not available, but clauses relevant to pensions are expected to include

• enabling powers to repeal the high income excess relief (HIER) charge in FA 2010 s.23 & Sch 2;
• transitional legislation delaying the latest pension vesting date to age 77; and
• a change to the law so that NEST can be a registered pension scheme.

Further details will be reported here when available.

Update 1 July