HC Deb 16 November 1932 vol 270 cc1135-6

asked the Minister of Health the amount of surplus accruing under the Contributory Widows', Orphans', and Old Age Pensions Acts at 31st March, 1929, 1930, 1931, and 1932; and whether he can state if his actuaries can estimate in what year the whole of the surplus will be absorbed according to the present rate of income and expenditure?


As the answer involves a number of figures, I will, with my hon. Friend's permission, circulate it in the OFFICIAL REPORT.

Following is the answer

The balance of income over expenditure (which cannot be regarded as surplus) under the Widows', Orphans', and Old Age Contributory Pensions Acts was £5,272,380 for the yea- ending 31st March, 1929, £3,631,364 for the year ending 31st March, 1930, and £39,058 for the year ending 31st March, 1931. Full accounts are not available for the year ending 31st March, 1932, but it is estimated that they will show a decrease in the fund of an amount approaching £6,000,000. As regards the latter part of the question, I would refer my hon. Friend to paragraph 3 of the Government Actuary's report on the financial provisions of the National Health Insurance and Contributory Pensions Bill, 1932 (Cmd. 4073), of which I am sending him a copy.

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