HC Deb 22 February 1999 vol 326 c171W
Mr. Webb

To ask the Secretary of State for Social Security if he will estimate on the basis of the figures provided by the Government Actuary the weekly income which could be purchased via an indexed annuity by(a) a man and (b) a woman, aged 65 years with an accumulated sum of £10,000 from a stakeholder pension if that annuity was intended to last (i) for a fixed period of 10 years and (ii) until death. [72182]

Mr. Timms

£10,000 would provide an annuity income of £730 per annum for a man and £630 per annum for a woman. Both of these are payable for life. The Inland Revenue's rules do not permit a retirement annuity to be payable for a fixed period of ten years.

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