HC Deb 21 February 1978 vol 944 cc592-3W
Mr. Wyn Roberts

asked the Secretary of State for Social Services what percentage of the individual's total contribution towards his pension, including contributions made on his behalf, will actually be invested to secure a pension and what proportion will be absorbed by administrative costs when the new scheme becomes operational on 6th April.

Mr. Orme

None. National Insurance Fund contribution income is not specifically allocated to pensions or any other benefit. The Fund operates on a pay-as-you-go basis with income from all sources for one year being used to meet expenditure for that year. Administration costs of the Fund in 1978–79 are estimated to represent about 3.8 per cent. of its income.