§ Mr. Wyn Robertsasked the Chancellor of the Exchequer what was the positive cash flow into approved superannuation funds in 1975; and what were the corresponding figures for 1970 and 1965.
§ Mr. Denzil Davies, pursuant to his reply [Official Report, 17th May, 1976; Vol. 911, c. 347.], gave the following information:
Estimates of the net investment by superannuation funds in the years mentioned are shown below:
Net Investment (£ million) 1965 486 1970 734 1975 2,468 Source: Financial Statistics, Table 75. 'Net investment' reflects the surplus of the income—contributions and investment income—of superannuation funds over their expenditure on pensions, other benefits and adminstrative costs. The estimates cover investment by all superannuation funds in the private and public sectors, but do not include investment by life assurance companies for or on behalf of superannuation schemes, which cannot be distinguished in the available statistics for ordinary life assurance.