§ Sir B. Rhys Williamsasked the Secretary of State for Social Services if he will publish a table corresponding to the Table 3 on page 39 of Strategy for Pensions 68W showing the amount of pension receivable annually under his proposals for men and for women per £100 of earnings at the ages specified; and if he will show what the amount of pension receivable annually would increase to at the age of retirement, assuming bonuses at a regular 3 per cent. per annum.
§ Sir K. JosephFollowing is the information:
RESERVE SCHEME
Pension from age 65 (men) or 60 (women) secured by contributions paid at the ages shown (provisional figures):
Age last birthday Pension per £100 of earnings at end of tax on which contributions paid year (£ per year) Men Women 21 1.87 (6.67) 1.27 (3.90) 25 1.61 (5.10) 1.09 (2.98) 30 1.34 (3.66) 0.91 (2.14) 35 1.11 (2.62) 0.75 (1.52) 40 0.92 (1.87) 0.62 (1.09) 45 0.77 (1.35) 0.51 (0.77) 50 0.64 (0.97) 0.42 (0.55) 55 0.53 (0.69) 0.34 (0.38) 60 0.43 (0.48) — The above table shows the amounts of pension that would be secured apart from bonuses, and, in brackets, the amounts receivable at pension age if bonuses accumulated at a regular 3 per cent. per annum. The actual rates of bonus will depend mainly on the investment performance of the reserve scheme fund. If the rates of bonus proved to be the same as the rates of price increase, the amounts shown in brackest would represent the same purchasing power at retirement age as was represented by the pension secured (apart from bonuses) at the time the contributions were paid.