141.—(1) Section 25 of the Pension Schemes Act (the pension and annuity requirements) is amended as follows.
(2) In subsection (1) for paragraph (a) substitute—
“(a)in the case of an occupational pension scheme it commences on a date—
(i)not earlier than the member’s 60th birthday, and
(ii)not later than his 65th birthday,
or on such later date as has been agreed by him, and continues until the date of his death, or
(aa)in the case of a personal pension scheme—
(i)where the member has elected under section 24(1A) to receive payments under an interim arrangement, it commences on the termination date, and continues until the date of the member’s death or, where section 24A(2) applies, until the death of the member’s widow or widower, or
(ii)otherwise, it commences on such a date as had been agreed by the member and is not earlier than his 60th birthday nor later than his 75th birthday, and continues until the date of his death;”.
(3) In subsection (3)(b)(iii), after “member” insert “or, where section 24A(2) applies, the member’s widow or widower.”
(4) In subsection (4), after “member” insert “(or a member’s widow or widower)”.