§ Mr. Bishopasked the Secretary of State for Social Services if he will set out in the OFFICIAL REPORT the major benefits which he seeks to make available through the proposed superannuation scheme and which are not available under private occupational schemes.
§ Mr. Ennals:The major benefits which the proposed superannuation scheme will make available, and which are not generally available under private occupational schemes are as follows:
- 1. A married man's contributions will provide a flat-rate pension for his wife if she does not have a substantial record of her own.
- 2. A husband's full earnings-related pension may be paid for life to his widow.
- 3. Pensions will be guaranteed against inflation through statutory reviews every two years.
- 4. The " early maturity " provisions will enable a man aged 45 and a woman aged 40 when the scheme starts to qualify for the full pension after only 20 years.
- 5. Transferability. However often people change jobs they take their full State pension rights with them.
The variety of occupational schemes makes it impossible to say that none of these benefits can be found in the private sector, but few, if any, occupational schemes provide all of them.