HC Deb 27 March 1987 vol 113 c283W
Mr. Pike

asked the Prime Minister, pursuant to her oral answer to the hon. Member for Burnley on 24 March, how many years' maximum contributions were possible in SERPS in 1979; and what is the figure now.

The Prime Minister

The state earnings-related pensions scheme began in April 1978; a person retiring on 6 April 1979 could therefore achieve one year's contribution. For someone on average earnings, the extra benefit amounted to 95p a week. This figure has, of course, been uprated in each year since. A person retiring on 6 April 1986, with a maximum of eight years in the scheme, would have received £16.25 in additional pension if he had been on average earnings. It is estimated that for April 1987, with a maximum of nine years contributions, a newly-retiring pensioner who had been on average earnings would receive £20.05 a week.