§ Lord Hayhoeasked Her Majesty's Government:
What is the estimated liability represented by unfunded public service pensions over each of the next five years. [HL6176]
§ Lord McIntosh of Haringey:Estimated expenditure on unfunded public service pensions, net of employee contributions, in 2002–03 totals about £13.2 billion. The Government Actuary has estimated corresponding net expenditure in 2007–08 will be £13.8 billion assuming constant earnings. The total over the five-year period is estimated to be about £68 billion net at constant earnings.