§ Mr. Greville Jannerasked the Secretary of State for Social Services how many and what percentage of men aged between 60 years and 65 years he estimates would retire from work if they were given the opportunity to do so on pension.
§ Mr. PrenticeI assume that the hon. and learned Member has in mind a situation in which pension age for men in the State and occupational schemes was reduced to 60. The extent to which men between 60 and 65 would retire in this situation would depend on the extent to which men and their employers adjusted their retirement plans and practices 587W to the new provisions. In the long term it is probable that the pattern of retirement amongst men aged 60 to 64 would be similar to that at present shown by men aged 65 to 69. On this basis it is estimated that about 90 per cent. of men aged 60 to 64 would retire. The hon. and learned Member may wish to know that at present more than 10 per cent. of men aged 60 to 64 are retired.