Member

Amendment 178 from the noble Viscount, Lord Younger, would delete Clause 49(6), as a probing amendment. The regulation-making powers in that subsection enable exceptions to the requirement to provide a regular income to be prescribed. They also enable the terms to be defined. Of course, the Government will seek stakeholder views before setting any threshold on a regular income or definition of retirement. Setting it in regulations will allow for increases over time to take account of inflation, where appropriate.