§ 48. Mr. George Cunningham
asked the Secretary of State for Social Services if he will now correct the statement he made in the House on 10th May (c. 690) regarding the basis on which it is proposed that contributors to the reserve pension scheme may defer taking their pension.
§ Mr. Dean
Yes. I regret that when the Social Security Bill was being considered on Report, I mistakenly said at one point that reserve scheme contributions would continue to be paid after pensionable age where a person goes on working—[Vol. 856, c. 690]. Under the Bill, such contributions will cease in all cases at the beginning of the income tax year in which the employee attains pensionable age. It would cause substantial complications for the contributions to go on beyond that, on either an optional or compulsory basis, since that is the point at which recognised pensionable employment ceases and it is fundamental to the arrangements that reserve scheme contributions should be payable only as an alternative to such employment.43W