HC Deb 12 April 1937 vol 322 cc754-6
That for the purposes of any Act of the present Session to extend the classes of persons who can become insured as voluntary contributors for the purposes of widows', orphans' and old age contributory pensions, and otherwise to amend, in relation to voluntary contributors and women engaged in certain excepted employments, the enactments relating to such pensions and to health insurance, to amend Section thirty of the Widows', Orphans' and Old Age Contributory Pensions Act, 1936, and Section four of the Northern Ireland (Miscellaneous Provisions) Act, 1932, and for purposes connected with the matters aforesaid, it is expedient that—
- (1) there shall be paid out of moneys provided by Parliament into any account constituted under the said Act—
- (i) in the year ending on the thirty-first day of March, nineteen hundred and forty, and in each of the two succeeding years, a sum greater by one-third than the sum which, on an estimate made in accordance with directions given by the
Treasury, may be expected to be received in a contribution year in respect of the contributions of persons (hereinafter referred to as 'initial entrants') who by virtue of the said Act, and not later than twelve months after the commencement thereof, are admitted as special voluntary contributors to insurance for the purposes of the Widows', Orphans' and Old Age Contributory Pensions Act, 1936 (hereinafter referred to as 'the principal Act'), such estimate being framed on the basis that every initial entrant is insured throughout the year;
- (ii) in each of the next succeeding seven years, a sum so calculated that, if annual payments of that amount were made during a period of twenty-seven years, those payments together with the sums paid under the preceding paragraph would be equal in value to the capital amount (as estimated by the Government actuary in the year nineteen hundred and forty-one) of the loss to the said account arising from the admission to insurance of initial entrants; and
- (iii) in subsequent years, such sums as Parliament may determine with a view to meeting the loss to the said account arising from persons, whether initial
entrants or not, being admitted to insurance for such purposes as aforesaid by virtue of the said Act of the present Session; and
- (2) there shall be defrayed out of moneys provided by Parliament any increased expenditure attributable to the said Act in respect of old age pensions payable under the Old Age Pensions Act, 1936, by virtue of the principal Act, and, to such extent as may be sanctioned by the Treasury, any other increased expenditure so attributable in respect of the administration of those Acts."
Resolution agreed to.
The remaining Orders were read, and postponed.