NATIONAL INSURANCE SCHEME (ACTUARIAL BASIS)

HC Deb 17 June 1948 vol 452 cc88-9W

Sir W. Smithers

asked the Minister of National Insurance if he will publish in the OFFICIAL REPORT a description of the actuarial basis on which the National Insurance Scheme coming into force on 5th July is based.

Mr. Steel

The Government Actuary made a report in 1946 on the financial provisions of the National Insurance Scheme. This report has been published as a Command Paper (Cmd. 6730), and I am sending the hon. Member a copy. Provision is made in the National Insurance Act, 1946, for quinquennial reports by the Government Actuary on the financial condition of the National Insurance Fund, and on the adequacy or otherwise of the contributions payable, and for interim reports by him on the operation of the scheme. These reports are to be made to the Treasury, and are to be laid before Parliament. The first interim Report will cover the period from 5th July, 1948, to 31st March, 1950.