§ 67. Mr. E. Johnsonasked the Minister of Pensions and National Insurance by what amount the purchasing power of the retirement pension for a single person decreased between the passing of the National Insurance Act, 1946, and October, 1951; and what was the corresponding figure between November, 1951, and the latest convenient date.
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§ Mr. Boyd-CarpenterIn October, 1951, most retirement pensions were at the recently increased weekly rate of 30s., but some pensioners under age 70–65 for women—were only entitled at the 26s. rate. On the basis of the Cost of Living Index for the period up to June, 1947, and the Retail Prices Index thereafter, 30s. in October, 1951, was about 10 per cent. below the value of 26s. in August, 1946. For those entitled in October, 1951, at the 26s. rate, the value of the pension showed a 22 per cent. decrease compared with 1946. The 50s. payable today is worth about 30 per cent. more than 30s. in November, 1951, and about 50 per cent. more than 26s. at the same date.