HC Deb 14 December 1967 vol 756 cc215-6W
Mr. Prior

asked the Minister of Social Security what is the total value of contributions to the old age pension made by a person now aged 65 years; and what is the value of the capital sum he would receive given the average expectation of life.

Mr. Pentland:

The total value of the contributions for retirement pension paid by a man now aged 65 depends on his individual circumstances and on the basis adopted for calculation, including whether account is taken of contributions before 1948, but could be up to £415, with a similar amount paid by his employer. The capital value of the pension of a single man who has just retired at 65 would be about £2,400.