§ Mrs. FyfeTo ask the Secretary of State for Social Security if he will estimate the savings made by paying pensions from the Monday following claimants' relevant birthdays or date of retirement. [20815]
§ Mr. ArbuthnotThe estimated cost of paying retirement pension for the part-week preceding the first pension pay day is £7 million at 1995–96 price levels. An equivalent amount would be saved if payment were to cease at the date of death instead of, as now, the end of the pension pay week.
To amend current payment procedures to provide for the changes outlined above would involve an additional clerical cost in the region of £2.5 million per year.