New clause 1 - Application of Act
Pension Annuities (Amendment) Bill
9:30 am
''(1) Subject to subsection (2), this Act shall apply only where an individual becomes a member of a personal pension scheme after the date on which this Act is passed.
(2) Any individual who was a member of a personal pension scheme before the date on which this Act is passed may elect for his membership of the scheme to be governed in accordance with this Act.''.—[Mr. Flight.]
Brought up, and read the First time.