§ Mr. Biggs-Davisonasked the Minister of Social Security by how much the additional contributions paid after retirement age by those still in work fall 97W short actuarially of the increment in pension received after retirement, bearing in mind the pension forgone in the interim period.
§ Mr. PentlandThis depends on a number of individual factors including the beneficiary's sex and marital status, the period during which retirement is deferred and the rate at which pension would be payable during deferment.
On current rates of benefit the increments earned by a married man who retires at the average retiring age of 66 would normally be about two-thirds of the actuarial value of the pension forgone and additional contributions paid.