§ Dr. Alan Glynasked the Minister of Pensions and National Insurance (1) whether he is aware that the figure of £600 capital has remained the limit, for 127W a number of years, above which subsidiary pensions cannot be claimed, despite the alteration in the value of money; and whether he will alter the regulations in order to encourage saving;
(2) whether he will arrange that the capital saved by pensioners shall be ignored in qualification for subsidiary pensions, and calculations based on the income derived from such capital.
§ Mr. WoodThe present figure, which relates to capital other than war savings, was increased by 50 per cent. in 1959. In addition, a person can have up to £375 new savings invested in Government securities since 2nd September, 1939, making a maximum of £975, or £1,350 for a married couple. A further increase, or a total disregard, unlike the increases which are made quite frequently in the basic assistance rates, would be of benefit only to people with substantial savings; and a total disregard would involve an important change in the National Assistance Scheme.