Richard Bruton (Dublin North Central, Fine Gael)

I move amendment No. 20:

In page 50, between lines 12 and 13, to insert the following:

"16.—Part 30 of the Principal Act shall be amended by inserting a new section:

"(785) A person who reaches retirement under a Defined Contribution Pension Scheme shall from 1 March 2009 not be required to purchase an annuity unless they do not have an income equivalent to the Non-Contributory Old Age Pension prevailing at the time of retirement.".".

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