HC Deb 13 March 1973 vol 852 cc317-8W
Sir B. Rhys Williams

asked the Secretary of State for Social Services what is the effective rate of interest used for calculation of the amount of the increment paid to national insurance pensioners who defer their retirement.

Mr. Dean

Increments are designed to give some return for the contributions paid after minimum pensionable age and for the pension theoretically forgone, but they were never intended to repre- sent a full actuarial return and therefore are not calculated on the basis referred to in my hon. Friend's Question.