HC Deb 19 October 1982 vol 29 cc81-2W
Mr. Shersby

asked the Chancellor of the Exchequer if he has any proposals to exercise the option for the Treasury to top up the bonus on the second index-linked National Savings "grannie" bonds, in view of the fall in the rate of inflation and the consequent impairment of the competitiveness of this investment in relation to other savings schemes.

Employee Contributions (incl. pay reductions) Employer Contributions‡ Source of benefits
Scheme per cent of pay Estimated re-venue (or savings) in 1982–83 £m per cent of pay Estimated re-venue in1982–83 £m Basic pensions‡ Pensions in-crease
Civil Service* See note† (360) † n/a n/a Exchequer Exchequer
Local Government 5 (manuals)6 (non-manuals) 400 8.5▀ 600 Local authority pension funds▀ Last employer of pensioner
Teachers 6 335 8.4 450 Notional fund Exchequer

Mr. Bruce-Gardyne:

I shall let my hon. Friend have a reply as soon as possible.