§ MR. ASHLEY (Lancashire, Blackpool)To ask the Postmaster General whether Post Office annuitants who require to draw on their capital are permitted to arrange with the Post Office to compound ' for their annuity according to the common practice of other annuity offices, and what instructions are given to local postmasters with a view to such arrangements.
§ (Answered by Mr. Sydney Buxton.) The Acts which provide for the payment of Government, annuities through the Post Office do not provide any systematic 1038 arrangement for the compounding of annuities which are in. course of payment. The Postmaster General, with the consent of the National Debt Commissioners, may cancel a contract for the purchase of an annuity. In the case of a deferred annuity purchased under the money returnable system, the purchase-money would be returned, without interest, if application were made to the Controller of the Savings Bank at any time before the annuity came into course of payment.