§ Sir B. Rhys Williamsasked the Secretary of State for Social Services what are now the numbers of men and of women who have deferred their retirement; and what is the total amount of 683W national insurance retirement benefits thereby foregone annually.
§ Mr. Alec JonesAbout 150,000 men and 50,000 women are currently deferring retirement. The men have about 110,000 dependent wives. Retirement pensions forgone, including pensions for wives, graduated pensions and increases for dependants, total about £135 million in a full year. I would emphasise that these are current figures relating to current—July 1974—rates of benefit.
§ Sir B. Rhys Williamsasked the Secretary of State for Social Services what is the total annual cost of the increments to national insurance retirement benefits now in payment; and what is the rate of return on the net benefit forgone in each year up to five years that retirement is postponed for a man and for a woman with normal expectation of life.
§ Mr. Alec JonesThe annual cost of increments now in payment is £54 million. The rate of return on benefit forgone would depend on the level of future upratings.