Transfer Payments and Preserved Benefits

Part of New Clause 1 – in the House of Commons at 3:37 pm on 20th July 1987.

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Photo of Tony Blair Tony Blair , Sedgefield 3:37 pm, 20th July 1987

The new clause addresses an important matter. How does it get around the difficulty of the early leaver who may go on to much better things in later life if one makes his transfer payment the same as will be required by his scheme on the admision of a new member with exactly the same service and all the rest of it? I am not sure how the problem will be resolved by the new clause.