HC Deb 29 May 1970 vol 801 c637W
Mr. Ward

asked the Secretary of State for Social Services what estimate he has made of the cost, assuming constant earnings, of raising by £1 with effect from 1st April, 1972, the present flat-rate pension and adjusting the formula for the new scheme pension so that no fully mature new scheme pension will be less than the flat-rate pension; and what percentage contribution he estimates to be necessary in 1972 to raise this sum.

Mr. Ennals:

About £530 million a year at the outset, which would require an addition of about 1 per cent. a side to the contributions provided for in the National Superannuation and Social Insurance Bill.