HC Deb 04 December 1933 vol 283 cc1279-80
5. Major-General Sir ALFRED KNOX

asked the Secretary of State for India regarding his scheme of the 14th November for the future administration of Indian family pension funds, whether he can give an estimate of the reduction in the pensions of subscribers due to the transfer of sums for greater safety from India to British trustee securities, to the remuneration of the proposed commissioners, and to allowance to cover losses due to depreciation of investment?


A report by the Government Actuary, giving rough esti- mates of the effect on the various pension schemes of the proposals then under consideration, was forwarded to subscribers with the circulars issued in May last. I cannot summarise these estimates in answer to a question but I am having copies of the circulars sent to my hon. and gallant Friend. It is hoped to lay before subscribers definite proposals accompanied by estimates based on up to date valuations before a final decision is reached in the case of any fund.


Has not the situation been changed by the legislative proposal to transfer the balance from India in the next 15 years instead of 15 to 40 years as originally proposed?


The hon. and gallant Member had better see the documents that I am sending him. All the details are there.

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