§ Sir B. Rhys Williamsasked the Secretary of State for Social Services what is currently the band of income over which employers are obliged to pay earnings-related contributions in respect of employees contracted into the State graduated pension scheme; what is the percentage of the income within the band which they contribute; and what is his estimate of the yield of employers' contributions to the scheme in 1970–71.
§ Mr. DeanEmployees participating fully in the State graduated pension scheme and their employers each pay graduated contributions at the rates of 4¾ per cent. of earnings falling between £9 and £18 a week and 3¼ per cent. of earnings between £18 and £30 a week; the estimated yield of employers' contributions to the scheme in 1970–71 is about £390 million.
§ Sir B. Rhys Williamsasked the Secretary of State for Social Services what is his estimate of the yield of employers' contributions to the State earnings-related pension scheme on the basis that all earnings up to £5,000 a year are included in the band and the contribution is at the rate of 10 per cent.
§ Sir B. Rhys Williamsasked the Secretary of State for Social Services what is the number of employees contracted into the State graduated pension scheme; and what is the number contracted out.
§ Mr. DeanAbout 10¼ million employed men and 7¼ million women are not contracted out of the State graduated pension scheme and 9¼ million and 5¼ million respectively of these pay graduated contributions; and 4¾ million men and ¾ million women are contracted out and pay graduated contributions at a reduced rate.