§ 19. Mrs. Cullenasked the Minister of Pensions and National Insurance what pension a man will receive who has contributed at the maximum rate since the inception of the graduated pension scheme and retires in 1975.
§ Mrs. ThatcherOn the unlikely assumption that no changes in pension rates or contribution liability have been made by 1st June, 1975, a man of 65 then retiring would receive a total pension of £4 5s. 6d. (single) and £6 7s. (married) and a man of 70 £5 11s. (single) and £8 3s. (married).
§ Mrs. CullenSurely this is a farcical amount? Surely the Minister could agree that this is not a pension scheme—that it is really a tax measure to avoid new taxes and the Government carrying out their responsibility?
§ Mrs. ThatcherI cannot agree that the amounts are farcical amounts. I think that if one takes account of the increasing benefit paid to an increasing number of beneficiaries one must expect to have both increasing contributions and taxes.