HC Deb 07 July 1977 vol 934 c651W
Sir J. Langford-Holt

asked the Secretary of State for Education and Science to what use the interest received on late payments of teachers' superannuation contributions under SI, 1976, No. 1987, is put.

Miss Margaret Jackson

It is appropriated in aid of the Education Vote. A credit entry in respect of it is in addition made in the teachers' superannuation account. The loss of interest to the account resulting from the late payment would otherwise increase the superannuation scheme's actuarial deficit, which is required to be removed by supplementary contributions from all employers.