§ Mr. FlynnTo ask the Chancellor of the Exchequer, pursuant to his answer of 16 February 2000,Official Report, column 609W, what assumptions were made regarding entitlement to inherited SERPS in calculating the estimated balance in the National Insurance Fund at the end of 2001–02. [118935]
§ Dawn Primarolo[holding answer 17 April 2000]: In calculating the estimated balance in the National Insurance Fund at the end of 2001–02 it was assumed that there would be a 100 per cent. entitlement to inherited SERPS if the spouse died in 2000–01 or 2001–02.
§ Mr. FlynnTo ask the Chancellor of the Exchequer by how much the National Insurance Fund balance at the end of each year from 2000–01 to 2010–11 is expected to exceed the minimum level recommended by the Government Actuary. [118936]
§ Dawn Primarolo[holding answer 17 April 2000]: I refer my hon. Friend to the answer I gave to him on 16 February 2000, Official Report, column 608W, detailing estimates for 2000–01 and 2001–02. As I explained then, the figures are based on the difference between forecasts of receipts and expenditure. Small changes in these forecasts could have a substantial impact on the excess. Current projections suggest that existing policy with respect to the National Insurance Fund is consistent with long-term sustainability. However, given the sensitivity of the variables involved, precise long-term forecasts of any actual excess on the Fund reserves would be misleading.