HC Deb 14 April 1937 vol 322 cc1010-1
79. Mr. E. Smith

asked the Chancellor of the Exchequer whether he will have actuarial reports prepared on the financial provisions required to provide, respectively, a pension of 15s. a week or 20s. a week for people prepared to retire at 60 years of age, and a pension of 15s. a week for all widows and spinsters at 55 years of age who retire from their employment?

The Financial Secretary to the Treasury (Lieut.-Colonel Colville)

The considerations which would arise if improvements in the contributory pensions scheme were to be made available subject to the retirement of the recipient from work are not primarily actuarial. It is not possible to discuss the subject within the limits of a Parliamentary reply. It was fully debated in the House on 21st February, 1934, and I would refer the hon. Member to the speech of the then Financial Secretary and to the Resolution adopted by the House on that occasion.

Mr. Smith

Will the hon. and gallant Member and his right hon. Friend reconsider that reply, in view of the exorbitant profits being made by insurance companies which are exploiting the needs of pensioners?

Lieut.-Colonel Colville

I am afraid I cannot give that undertaking, and I would remind the hon. Member that it is a very complicated question indeed, as the speech to which I have referred brings out.

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