§ Mr. Beithasked the Secretary of State for Social Services what consideration she has given to the reduction of the retirement age for men by stages to 60 years.
§ Mr. O'MalleyAs I have made clear on a number of occasions, a reduction in the minimum pension age for men in the foreseeable future is ruled out on the grounds of cost. At present rates of pensions, and assuming that the pattern of retirement during the first five years after the lower age would be the same as it is now between the ages of 65 and 70, the cost to the National Insurance Fund would range from about £250 million a year for a reduction in the pension age to 64 to over £1,400 million a year for a reduction to 60.