Member

26: Clause 9, page 10, line 39, at end insert— “(7A) Regulations may provide that payment of surplus to the employer may only be made to the employer on the condition that—(a) enhancement to member benefits particularly relating to provision of pre-1997 inflation increases, or (b) one-off payment to reflect lack thereofis simultaneously provided by the employer.”Member’s explanatory statement This amendment would allow regulations to require employers to enhance member benefits (including provision of pre-1997 inflation protection or offer a one-off payment) if they want to extract surplus payments from the scheme.