PENSIONS BILL EARLY RETIREMENT EXEMPTION

Early day motion 868, tabled 22 March 2004 by Alan Keen (Labour/Co-operative). Signed by 26 members.

That this House notes that the Pensions Bill in its current draft will have a disproportionate effect on footballers and dancers; notes that the Bill will remove the current early retirement exemption that allows them to draw their pension benefits from age 35; recognises the physical nature of their employment and their inability to continue in their chosen professions beyond their 30s; understands that this exemption allows these professionals to retrain for second careers without being reliant on state benefits; notes that only a small percentage of footballers and fewer dancers ever earn enough to save independently; reminds Government of the part these professionals play in national heritage; fears that this change could dissuade people from entering these professions for fear of financial hardship when they are older; recognises that the Professional Footballers' Association and Equity are extremely concerned about the impact the changes will have on their members; further recognises that this change will affect fewer than 5,000 people and will cost the Government money in lost tax revenue; and calls on the Government to reconsider its decision and maintain the exemption.

Signatures by party: Labour 21, Labour/Co-operative 2, Conservative 1, DUP 1, Liberal Democrat 1.