The Object of this Bill is to amend the National Insurance Act, 1956, so as to -

(i) exempt all persons over the age of sixty-five from the payment of contributions;
(ii) exempt persons between pension age and sixty-five from the payment of contributions if not gainfully occupied and, if gainfully occupied, where the earnings are below a certain limit;
(iii) confirm that persons over sixty-five years of age are not disqualified from receiving a pension notwithstanding that they are in possession of a trading licence;
(iv) increase the amount up to which a person in receipt of a pension may derive earnings without forfeiting his pension;
(v) remove the distinction between husband and wife when one of them is in possession of a trading licence;
(vi) provide that a person retains his right to a pension if he transfers a trading licence to another person who does not live with him as one family;
(vii) provide for certain minor and consequential amendments.