HC Deb 14 March 1917 vol 91 cc1097-8W

asked the Comptroller of the Household, as representing the National Health Insurance Commissioners, whether the Insurance Commissioners who, under the Insurance Act, retain a proportion of the moneys belonging to approved societies are still investing these moneys at a return of 3 per cent. through the Commissioners of the National Debt; and, if so, why approved societies should not have the advantage of higher rates of interest now prevailing, especially in view of the extra strain on these due to the loss of healthy members in the War?


Sums standing to the credit of approved societies in the Investment Account are still invested through the National Debt Commissioners in accordance with the provisions of the National Insurance Act, 1911. The rate of interest prescribed under the Approved Societies Consolidated Regulations, 1916, is 3¼ per cent. per annum, but the question of the revision of the prescribed rate is at present under the consideration of the Joint Committee.

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