§ 23. Mr. McKayasked the Minister of Pensions and National Insurance what is the amount of a man's contribution that is expected to be allocated to pensions in the flat rate section out of the 8s. 4d. to be paid under proposed legislation
§ Mr. Boyd-CarpenterAs the hon. Member will be aware, the proposals contained in the National Insurance Bill provide for a comprehensive system of National Insurance benefits financed on the pay-as-you-go principle. No such precise actuarial figure as is asked for in his Question is appropriate to particular benefits under the scheme, and such a figure is not, therefore, available.
§ Mr. McKayIs it not correct that it has been admitted through Ministerial Answers to Questions that under the Act, at present. 4s. 11.2d. is allocated to pensions? Will it not be correct to say that under the new proposals the amount that will be allocated to pensions, under level rate payments, will be less than the 4s. 11. 2d. allocated now?
§ Mr. Boyd-CarpenterAs the minimum contribution under the proposed scheme itself will be appreciably smaller than the present flat-rate contribution, I do not think it an unreasonable deduction for the hon. Gentleman to make that the amount for pension will also be less.