§ Mr. Kershaw
asked the Chancellor of the Exchequer why pensions payable to residents overseas, were paid at the devalued rate of the £ sterling after 18th November, 1967, in view of the fact that the payment related to a period before devaluation.
§ Mr. Harold Lever
Sterling pensions are payable in sterling. If the pensioner is living abroad, they must necessarily he converted into local currency at the rate of exchange operating when the draft is present for payment.