§ Sir B. Rhys Williamsasked the Secretary of State for Social Services what proportion of the basic National Insurance pension for a man and his wife will have been earned by his own contributions and by his employer's contributions, respectively, on the assumptions that he reaches the age of 65 years in 1969 after 566W completing an average record of employment and contributions, and taking into account compound interest at reasonable rates and changes in the value of money.
§ Mr. EnnalsOn an actuarial calculation, assuming 5 per cent. interest, the proportion of the man's flat-rate retirement pension covered by his own and by his employer's contributions if he retires now at the age of 65 having paid an average of 50 contributions a year since 1948, and maximum graduated contributions since 1961, would be about 8 per cent. in each case, including pension rights for a wife five years younger than himself. I regret that it would not be possible, without an unjustified amount of elaboration and calculation, to refine the figures to take account of the changes in the value of money, of the movement of average male earnings and of average periods of absence from work.