§ 68. Mr. J. Johnson
asked the Minister of Education whether, in view of the dispute between himself and the National Union of Teachers regarding the actual amount of the actuarial deficiency in their superannuation fund, he will appoint an independent actuary to investigate the matter.88W
§ Sir D. Eccles
No. The National Union of Teachers does not dispute the Government Actuary's calculations.
§ 72. Mr. Collins
asked the Minister of Education how much has been contributed to the teachers' pension fund, from its inception to the latest convenent date, by teachers and their employers, respectively; what, over the same period, is the total sum paid out of the fund; and what, respectively, were the totals of payments out and payments in during the last financial year.
§ Sir D. Eccles
Following is the Answer:
TEACHERS (SUPERANNUATION) ACCOUNT Statement of income and expenditure from 1st June, 1922 to 31st March, 1955 (including provisional figures for 1953–54 and 1954–55) £ Contributions from teachers 122,946,000 Contributions from employers 122,946.000 Total contributions £245,892,000 Interest £116,149,000
Pension payments (a) in respect of service on or after 1st June, 1922 114,712,000 (b) in respect of service prior to 1st June, 1922, met wholly by the Exchequer 165,763,000 Total pension payments £280,475,000
Income and Expenditure in (provisional) in 1954–55 Total income (including interest) 31,848,000* Total expenditure 17,147,000*
* NOTE: Both income and expenditure include £6,020,000 in respect of benefits attributable to service before 1st June, 1922, which are met wholly by the Exchequer.