§ 44. Mr. Montgomeryasked the Minister of Social Security whether she will consider taking steps to increase the additional pension earned by staying on at work after pensionable age.
§ Mr. PentlandIncrements to the flat rate retirement pension were improved as recently as last October, when the maximum addition which can be earned was increased from 21s. to 29s. a week.
§ Mr. MontgomeryIs the Minister aware that this is not actuarially fair, and that, as the trend seems to be for people to retire earlier, if he wants to encourage people to stay on after retirement age more incentives must be provided?
§ Mr. PentlandNo, Sir. The opportunity to earn increments has never been one of the major factors in influencing people to defer retirement until after retiring age, and the financial attractions of earnings and the ability to continue to work are, in our view, much more important.