§ Mr. Swinglerasked the Paymaster-General the average annual excess of income over expenditure in the fund of the mineworkers' pension scheme since its inception; and what is now the value of the scheme's assets.
28Wthe figures per head of estimated population are:
§ Sir I. HorobinAccording to the Fund Accounts, the average annual excess of income over expenditure has been £6.3 million. Included in the income are deficiency contributions by the National Coal Board which are now at a rate exceeding £4 million per annum and are at present expected to continue at this rate for about 35 years.
The amount of the Fund according to the balance sheet as at 5th April, 1958 was £39.8 million. This Fund, together with the Board's future deficiency contributions, the value of which is about £86 million, constitute the assets of the Scheme, and all of these are required in order to meet the net liability for future benefits at the present rates.