§ Sir Brandon Rhys Williams
asked the Secretary of State for Social Services what is the estimated revenue for 1981–82 from national insurance contributions; what amount is necessary to finance the new earnings-related element of retirement pensions in the current year; and what is his estimate of the proportion of the total yield of national insurance contributions required for earnings-related pension provision in future years.
§ Mrs. Chalker
It is estimated that the revenue from national insurance contributions for 1981–82 will be £14.77 billion and that £20 million of this will be required for purposes of the earnings-related element of retirement pensions. The Government Actuary is currently preparing his quinquennial review, which will cover the question of future revenue requirements of retirement pensions.