Requisite Benefit For Earner
Lords amendment: No. 10, in page 24, line 9, leave out subsection (5) and insert:
"(5) Equivalent pension benefits for the purposes of the former legislation are not to be regarded as constituting any part of the earner's guaranteed minimum pension.
(6) The benefits referred to in subsection (5) above are any to which the earner may be immediately or prospectively entitled in respect of a period of employment which—
(a) was for him non-participating employment under that legislation; and (b) was not on its termination the subject of any payment in lieu of contributions;but subsection (5) excludes so much only of those benefits as (and no more than) had to be provided in order that the employment should for that period be treated as non-participating.
(7) In this section "the former legislation" means Part III of the National Insurance Act 1965 and the previous corresponding enactments."
I beg to move, That this House doth agree with the Lords in the said amendment.
With this we are taking Lords amendments Nos. 20 and 21.
The Government introduced these technical amendments in another place to make clear that equivalent pension benefits constituted only the minimum benefits which had to be provided for contracting out under the National Insurance Act 1965.
Question put and agreed to.