§ MR. RANKINasked the Postmaster General, If in the New Annuity Tables shortly to be issued by the Post Office Department, he will frame a simple and easily understood Table, by which persons of either sex may, by annual payments made between the ages of eighteen and twenty-five, purchase an annuity of ten pounds payable on and after sixty years of age; and also, if he consents to do this, whether he will direct such Table to be placed in a conspicuous position at every post office?
§ MR. FAWCETTThe new Post Office Annuity and Insurance Tables were issued a fortnight ago, and they can now be seen or purchased at any post office where there is a savings bank. The Department has been most anxious to make the scheme as simple and as intelligible as possible. Annuities can be purchased by any person of five years of age and upwards for any amount not less than £1, or any multiple of £1 up to £100, the annuity to commence at 60 or an earlier age. The Tables are prepared so as to show at a glance the cost of an annuity of £1 to commence at any age within the prescribed limits. It will simply be necessary to multiply the premium for £1 by the number of pounds. It is intended that the scheme should be made known as far as possible through the issue of notices containing simple examples; but I fear, if the particular suggestion of the hon. Member were carried out, of giving examples confined to the ages of 18 to 25, it might produce an impression that these were the only ages allowed. If, however, the hon. Member will communicate with me I shall be very glad to discuss the subject with him.