Liam Twomey (Fine Gael)

I move recommendation No. 2e:

In page 50, before section 16, to insert the following new section:

"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.".".

Section 16 is concerned with allowing people to put off purchasing defined contributions and this has been dealt with.

Recommendation, by leave, withdrawn.