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Clause 43

Volume 897: debated on Monday 4 August 1975

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Premium On Termination Of Contracted-Out Scheme

Lords amendment: No. 26, in page 35, line 7, leave out from "otherwise)" to end of line 16 and insert "then—

  • (a) in respect of each earner whose accrued rights to guaranteed minimum pensions under the scheme are not subject to approved arrangements; and
  • (b) in respect of each person who has then become entitled to receive a guaranteed minimum pension under the scheme and whose guaranteed minimum pension rights are not so subject,
  • a state scheme premium shall be payable by the prescribed person."

    I beg to move, That this House doth agree with the Lords in the said amendment.

    With this we are to take Lords Amendments Nos. 27, 28, 29, 30, 31 and 32.

    These are partly drafting amendments but also, in the case of Lords amendment No. 26, they add some administrative flexibility by providing that both the accrued rights premiums and pensioners' rights premiums are to be paid by the prescribed person. The purpose is to provide greater flexibility, in that they can be paid not only by the employer but also by the scheme manager or the scheme trustees.

    Question put and agreed to.

    Subsequent Lords amendments agreed to