§ 41. Captain Pluggeasked the Chancellor of the Exchequer what would be the financial result of treating civil servants' pensions as deferred pay in fixing the amount of salaries.
§ The Chancellor of the Exchequer (Sir John Anderson)A system of deferred pay would presumably involve definite and ascertainable deferments of pay throughout service, with payments on termination of service restricted in individual cases to the produce of the individual's accumulated deferments of pay, plus some fixed contribution by the State as employer. In effect, this would mean a contributory pensions scheme. The 365 financial result of any such scheme would clearly depend upon its exact nature and scope and, in the absence of information on that point, I am unable to provide any estimate of cost.