HC Deb 01 February 1960 vol 616 cc78-9W
10. Mr. Osborne

asked the Minister of Pensions and National Insurance if he will investigate the position of elderly self-employed people, who by reason of age were debarred from joining the voluntary scheme, but whose personal savings are assessed at 5 per cent. on the first £375 and 10 per cent. on anything exceeding £400; and, since it is impossible to obtain comparable rates of interest with safety, if he will have this practice revised.

Mr. Boyd-Carpenter

I am, of course, much concerned with the position of elderly people who do not enjoy the advantages of the National Insurance scheme. I assume that what my hon. Friend has in mind are people in receipt of the non-contributory old-age pension. The figures to which my hon. Friend refers are riot based on any assumption as to the amount of interest obtainable but govern the treatment of capital resources for the purpose of assessment of means in accordance with the Old Age Pensions Act. 1936.