§ Mr. WebbTo ask the Secretary of State for Social Security if he will estimate the cost of exempting all persons who have reached pension age by April 2000 from the proposed 50 per cent. cut in inherited SERPS entitlement, on a basis consistent with his estimate of a cost of £2,500 million for his proposed deferral of the cut until October 2002, assuming that this policy was implemented in place of his proposals announced on 15 March. [115528]
§ Mr. RookerThe estimated cost is £7,100 million.
Notes:
1. The cost has been estimated by the Government Actuary's Department (GAD).
2. The cost is expressed as the net present value of the annual figures from 2000–01 to 2050–51 in 1999–00 prices, discounted at an annual real rate at 6 per cent.
3. It has been prepared on a basis which is consistent with the latest GAD Quinquennial Review.