§ Mr. Haleasked the Minister of Pensions and National Insurance what is the estimated actuarial value of the increments of retirement pension payable to a man aged 65 years who commences to contribute to the graduated National Insurance after attaining the age of 65 years on ceasing to be covered by a private scheme, assuming his sixty-fifth birthday to be on the nearest convenient date and that he retires two years thereafter.
§ Mr. WoodThe capital value of the flat-rate increments arising from his deferment of retirement would be about £370 assuming that his wife is five years younger than he is. Assuming also that his only graduated contributions were paid from the age of 65, on earnings of40W £18 a week, the capital value of the resulting graduated addition to his pension would be about £75.
§ Mr. Wainwrightasked the Minister of Pensions and National Insurance how long a single man who retired at the age of 70 years would have to draw the extra pension for which he would be qualified to receive an amount equal to what he would have drawn had he retired at the age of 65 years.
§ Mr. WoodOn the basis of the present flat-rate pension of £3 7s. 6d. and the flat-rate increments which can now be earned, the answer is about 16 years.