The Principal Act is amended -

(a) by inserting the following section after section 113A (inserted by section 11 of this Act) but in Chapter 15:

"113B. Entitlement for retirement pension recipients.

(1) Notwithstanding this Chapter and regulations made under this Chapter and subject to subsection (2), old age (contributory) pension shall be payable in accordance with this section in the case of a person who-

(a) has attained pensionable age, and

(b) immediately before attaining pensionable age is in receipt of a payment under Chapter 16 of this Part.

(2) Only one pension shall be payable to or in respect of a person under this Chapter.

(3) In the case of a person who is in receipt of retirement pension under Chapter 16 of this Part, the weekly rate of pension payable shall be the greater of-

(a) the rate payable in accordance with this Chapter, or

(b) an amount equal to the rate of retirement pension payable in accordance with Chapter 16 of this Part.",

and

(b) in section 300, by inserting the following subsection after subsection (9) (inserted by section 11 of this Act):