§ 100. Colonel YATE
asked if there is any reason, other than the statutory one, for charging an officer commuting his pension 5 per cent. interest, seeing that the money is borrowed at 3½ per cent. to pay him with, and that the Regulations provide that each officer commuting is subject to a strict medical examination in London and to the addition of years to actual age in the case of impaired lives and to fees being charged varying from £5 to £50 for every commutation effected after the first?
§ Mr. LLOYD GEORGE
In fixing the rate of interest to be charged under the Pensions Commutation Act, 1871, Parliament had no doubt regard not only to the necessity for providing a margin of safety, but also to the measure of advantage which the individual officer derves from commutation in cash.