§ Mr. Wigleyasked the Secretary of State for Social Services if he will publish a table indicating his estimates of the additional annual cost to Government funds on areas within his responsibility if the retirement age for (a) men and (b) women were reduced in 12-month steps from their present level to a uniform retirement age of 55 years of age.
§ Mr. MajorNo figures are available to show the estimated additional cost of reducing the retirement age to below age 60 for men, nor are any figures available to show the estimated additional cost of reducing the retirement age for women to below the present retirement age of 60. The net estimated additional annual cost to public funds of reducing the retirement age for men from age 65 to age 60 is as follows:
Estimated additional annual cost (rounded) (1983–84 benefit rates) Reduction in retirement age to: £ million 64 400 63 900 62 1,400 61 1,900 60 2,600 These figures also take account of the increase in tax revenue which could result from a change.