§ 74 and 75. Sir T. Beamishasked the Secretary of State for Social Services (1) what proportion of the pension paid to a single employed man and a married employed man, shown separately, retiring today, in cases where regular contributions have been made for 10 years, is covered by the employer's contribution, the employee's contribution and general taxation, respectively;
(2) what proportion of the pension paid to a self-employed single man and a self-employed married man, shown separately, retiring today, in cases where regular contributions have been made for 10 years, is covered by the recipient's contribution and by general taxation respectively.
§ Mr. EnnalsRetirement pension is paid from the National Insurance Fund which is financed on a pay-as-you-go principle. The Exchequer supplement provides about 15 per cent. of the income.
A man who has contributed for the last 10 years would have a pension scaled down in proportion to the period of contributions since 1948. On an actuarial calculation, assuming 5 per cent. interest and that graduated contributions were paid at the maximum rate, the proportion of his pension covered by his and his employer's contributions would be 30 per cent. and 31 per cent. respectively for a single man and 15 per cent. and 100W 15 per cent. for a married man whose wife is five years younger than himself.
For a self-employed man in corresponding circumstances 30 per cent. of his pension would be covered by contributions if single and 14 per cent. if married.