§ Mr. Freudasked the Chancellor of the Exchequer what moneys have been spent on bringing index-linked retirement bonds to the attention of retired pensioners; when an explanatory leaflet concerning these bonds was last circulated with the pension book; and what would be the present cost of such an exercise.
§ Mr. Lawson£940,000 has been spent on promoting this issue of certificates. In the early part of 1978 the Department for National Savings printed 12 million copies of a general leaflet on safeguarding money for issue to pensioners at post offices as they draw their pensions. This leaflet included a reference to retirement issue national savings certificates. The cost of a distribution of retirement issue certificate leaflets to pensioners at post offices today is estimated to be £140,000.
§ Mr. Freudasked the Chancellor of the Exchequer what is the current value of a £100 index-linked retirement bond purchased at the time of original issue; and what would be the value of such a bond purchased on 1 January of each subsequent year.
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§ Mr. LawsonThe current value of £100 retirement issue national savings certificates purchased when they were first introduced June 1975 is£180.64. The value this month of a £100 certificate purchased on each of the following dates would be:
Date of Purchase £ 1.1.76 161.72 1.1.77 140.65 1.1.78 124.44 1.1.79 100.00 A certificate of this issue encashed within one year of purchase is repaid at purchase price.