71. Mr. McKIEasked the Secretary of State for India in what country the capital of the Indian pension funds is invested and in what investments is the money placed?
§ Sir VICTOR WARRENDER (Lord of the Treasury)I have been asked to reply. The funds are not separately invested. The moneys that have been contributed to them have, in effect, been treated as deposits with the Government of India and are secured on the credit of that Government. It will be seen from paragraph 73 of the White Paper that His Majesty's Government are examining a proposal for the adoption of a new financial procedure in regard to these funds.