§ 4. Mr. Ridsdaleasked the Minister of Pensions and National Insurance what is the value of the pension in real terms at the latest date, compared with May 1963, after the increase in pensions had been made.
§ Mr. PentlandAt current prices the present retirement pension rates of 80s. (single) and 130s. (for a couple) are worth 5s. l0d. and 10s. 4d. more, respectively, than the 67s. 6d. and 109s. rates introduced in May 1963.
§ Mr. RidsdaleDoes this figure contain an allowance for the 50 per cent. increase in water rates which some old-age pensioners are having to bear as a result of the last Budget? Would the hon. Gentleman please say how he arrived at these figures?
§ Mr. PentlandThis figure covers everything in the index of retail prices. Despite an increase in prices, the purchasing power of the retirement pension today is at a higher level than it was at any time during the 13 years of Tory rule.