§ 71. Sir W. Darlingasked the Financial Secretary to the Treasury the amounts held in State superannuation funds; and 108W if he will give consideration to the introduction of legislation with a view to their amalgamation with those of local government authorities in order to consolidate benefits and equalise contributions.
§ Mr. Boyd-CarpenterNo amounts are held in State superannuation funds as all State superannuation schemes are unfunded. I am however circulating the latest audited figures for the four of these schemes which maintain statutory accounts. The answer to the second part of the Question is "No."
The following are the figures:
31st March 1948: £167,228,326, Teachers' Scheme (England and Wales).31st March, 1952: £86,456,635, National Health Service Scheme (England and Wales).31st March, 1949: £28,201,616, Teachers' Scheme (Scotland).31st March, 1952: £10,258,318, National Health Service Scheme for Scotland.The actuarial deficiency at 31st March, 1954, on the Teachers' Scheme (England and Wales) is estimated at £194 million and that on the Teachers' Scheme (Scotland) at £26 million. The net liability under the National Health Service schemes will not be known until after the first actuarial review, which will determine the situation as at 31st March, 1955.