HC Deb 18 July 1966 vol 732 cc32-3W
Mr. Burden

asked the Secretary of State for Defence what is the present value of a long-service pension first drawn in 1950 at £2 a week.

Mr. J. P. W. Mallalieu

According to the Ministry of Labour Indices of Retail Prices, the pension of £2 a week awarded to a Service man who retired to pension in October 1950 is now worth £11s. 10d.; if he retired in June 1950 on the same figure, this would be worth £11s. 7d.

If the Service man is now over 60 years of age and has therefore become eligible for Pension Increase, his original £2 would now be increased to £3 4s. ld. or £3 18s. 9d. per week respectively, the difference being accounted for by the fact that a man retiring in June 1950 would have become eligible for an additonal Pension Increase.

When he reaches the age of 70, the above figures will be further increased to £3.11s. 9d. and £4 6s. 5d. respectively.