It aims to make provision for Northern Ireland corresponding to the Westminster Pensions Act 2011.
Nelson McCausland was speaking on the bill's second stage which aimed to make provision for Northern Ireland corresponding to the Westminster Pensions Act 2011.
Its change of heart comes on top of substantial reforms to the state pension system that have already been passed into law by the 2007 Pensions Act.
The 1995 Occupational Pensions Act lulled scheme members into a false sense of security by creating a Minimum Funding Requirement that led them to believe that even if their employer became insolvent, there would always be enough money to meet pension promises.
Rather than trying to act as the main provider of health, education and pensions, it would act as the guarantor of universal access and as a regulator.
The 1952 Income and Corporation Taxes Act made pensions tax-free, if granted on account of medical unfitness attributable to service.
We are clearly entering into a new era where pensions will have to act a lot smarter in the future than they have in the past.
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Yet adherence to this standard is so demanding that few of the businesses that act as fiduciaries to pensions meet it.
Congress rejected this 1937 proposal and turned against further New Deal measures, but not before the Social Security Act creating old-age pensions went into effect.
The Employee Retirement Income Security Act of 1974 was written to protect participants in pensions.
Yucho wants to act as a sales agent for third-party products when portable pensions are introduced later this year.
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