HC Deb 26 November 1970 vol 807 cc209-10W
Mr. Hayhoe

asked the Secretary of State for Social Services by how much the purchasing value of the present National Insurance retirement pension will have fallen by 1st November, 1971, on the basis that the cost-of-living rises at an annual rate of 7 per cent.; and when last the pension purchasing value stood at an equivalent level.

Mr. Dean

On the basis suggested, the purchasing power of the standard rate of retirement pension would fall by 14s. 5d. a week by 1st November, 1971; it would last have fallen below the resultant level in February, 1965, just before the increases introduced in that month.