Teachers' Superannuation Account

HC Deb 06 May 1954 vol 527 c34W

Mr. Brooke

asked the Minister of Education, on the basis of existing legislation and salaries, what will be the credit balance in the Teachers' Superannuation Account 20, 30 and 40 years hence, respectively.

Miss Horsbrugh

On the basis stated in the Question and if, in addition, it were assumed that the number of teachers in service would continue to increase roughly at the present annual rate for the next few years, and would thereafter remain at a more or less steady level, the credit balance in the Account would, it is estimated, drop from about £320 million in 1974 to about £210 million in 1984, and become wholly exhausted by 1994. There would then be liabilities of some £680 million, the capitalised value of pensions payable after that date.