§ Sir B. Rhys Williamsasked the Secretary of State for Social Services what are the rates of return which are represented by the increments earned on bene- 350W fits forgone by male and by female pensioners who retired on 1st July 1974 having deferred their retirement, respectively, by one, two, three, four and five years, on the basis of the rates of benefit now in payment and normal expectation of life.
§ Mr. Alec JonesIf increments were to be excluded from future upratings, the sum of the pension or pensions forgone would on average exceed the sum of the increments received in each of the examples quoted. If therefore "rate of return" is taken as meaning the interest content of the increments received in return for the pension forgone, it would, on the assumption quoted, be negative in each case.