HC Deb 29 April 1968 vol 763 cc142-3W
Mrs. Lena Jeger

asked the Minister of Social Security what estimate she has made of the cost of reducing the retirement age of men for purposes of National Insurance pensions to 60 years of age; and the saving from increasing the retirement age of women to 65 years of age.

Mr. Pentland

On the first part of the Question I would refer my hon. Friend to the reply given to my hon. Friend the Member for Newark (Mr. Bishop) on 29th January. The saving from increasing the minimum pensionable age of women to 65 would depend on a number of factors, for example, the transitional arrangements and the effect on other benefits, but could be anything up to about £50 million a year eventually.8—[Vol. 757, c.207.]

Mr. Pardoe

asked the Minister of Social Security what percentage is the basic retirement pension for a single man of the average industrial earnings; what is the comparable figure for the pension of a man and wife; and what were the comparable figures for 1964.

Mr. Pentland

The following table gives the information requested:

STANDARD RATE OF NATIONAL INSURANCE RETIREMENT PENSION AS A PERCENTAGE OF AVERAGE EARNINGS OF MEN IN INDUSTRY*
Pension rate (1) Average earnings (2) Col. (1) as percentage of Col. 2
s. d. s. d.
Single person:
October 1964 67 6 362 2 18½
October, 1967† 90 0 427 6 21
Married couple:
October, 1964 109 0 362 2 30
October, 1967† 146 0 427 6 34
* On the basis of the average earnings of men manual wage earners in manufacturing and some of the principal non-manufacturing industries covered by the Ministry of Labour's half-yearly inquiry into earnings.
† The latest month for which figures are available.