§ Mr. O'MalleyI beg to move Amendment No. 12, in page 17, line 7, leave out
'(on the assumption that he will attain that age)'.
§ Mr. O'MalleyAmendments Nos. 12, 13 and 16 have the effect of enabling schemes with a waiting period of not more than five years to be used for contracting out, provided that service during the waiting period counts towards the guaranted minimum pension and that, when the waiting period is completed, service in that period counts towards requisite benefits. The amendments have been put down in response to representations from pensions interests. Amendment No. 15 is a technical amendment.
§ Amendment agreed to.
§ Amendment made: No. 13, in page 17, line 15, at end insert—
§ '(1A) Where it is a condition of a scheme that the earner shall complete a specified minimum period of service before qualifying for requisite benefits in excess of guaranteed minimum pensions, then in determining whether his service qualifies him as mentioned in subsection (l)(a) above at a time when he has not completed that period of service, the assumption is to be made that he will complete it; but in such a case for the employment to be contracted-out by reference to the scheme—
- (a) the minimum period must not be more than five years;
- (b) any service during that period must count towards guaranteed minimum pensions; and
- (c) any service in the period must, when the period is completed, count towards all the requisite benefits of the scheme'.—[Mr. Alec Jones.]