§ Mr. DewarTo ask the Secretary of State for Social Security what state earnings-related pension would be received in the years 2010 and 2040 by(a) a man and (b) a woman both with a full national insurance contribution record and earning throughout (i) national average earnings, (ii) one and a half times average earnings, (iii) and half average earnings, using the assumptions used by the Government actuary in Cm. 2714, "Report on the Financial Provisions of the Pension Bill on the National Insurance Fund," before the changes to SERPs introduced in 1988, under the present scheme and on the assumption that the changes in the Pensions Bill, as introduced in the House of Lords, are implemented in full. [22449]
§ Mr. ArbuthnotThe information is in the table.
205W
1995–96 prices £s per week Pre-1988 changes Present Proposed Male: retiring in 2010–11 Average earnings 87.90 75.30 71.60 1.5 average earnings 128.40 102.90 99.30 0.5 average earnings 36.90 31.60 27.90
1995–96 prices £s per week Pre-1988 changes Present Proposed Female: retiring in 2010–11 Average earnings 87.90 75.30 71.60 1.5 average earnings 128.40 102.90 99.30 0.5 average earnings 36.90 31.60 27.90 Male: retiring in 2040–41 Average earnings 144.60 102.70 97.50 1.5 average earnings 173.60 112.10 107.00 0.5 average earnings 65.30 52.20 47.00 Female: retiring in 2040–41 Average earnings 143.70 101.20 97.50 1.5 average earnings 160.10 107.10 107.00 0.5 average earnings 65.30 52.20 47.00 Notes:
1. Pensioners are assumed to retire in the tax years 2010–11 and 2040–41. Under the proposed scheme State pension age for women in 2010–11 will be between 60 years and 1 month and 60 years and 6 months, and in 2040–41 it will be 65. In all other schemes it will be 60.
2. Future real earnings growth is assumed to be 1.5 per cent. perannum.
3. The pre-1988 amounts are based on the best 20 years of revalued earnings.
4. The earnings figures used are national, all adult full-time average earnings.