New Clause 33 - Increase in age at which short service benefit must be payable

Pensions Bill – in a Public Bill Committee at 10:15 am on 27th April 2004.

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'(1) In section 71 of the Pension Schemes Act 1993 (c. 48) (basic principle as to short service benefit), for subsection (3) substitute—

''(3) Subject to subsection (4), short service benefit must be made payable as from an age which is no greater than—

(a) the age of 65, or

(b) if in the member's case normal pension age is greater than 65, normal pension age.''

(2) In section 72 of that Act (no discrimination between short service and long service beneficiaries), at the end add—

''(4) This section is subject to subsections (3) and (6) of section 71 (age at which short service benefit is to be payable).''.'.—[Malcolm Wicks.]

Brought up, read the First and Second time, and added to the Bill.