HC Deb 13 December 1976 vol 922 cc598-9W
Mr. Sillars

asked the Secretary of State for Social Services what is the purchasing power of the present retirement pension for single persons and a married couple, respectively, when compared with the purchasing power of the pension in December 1973.

Mr. Deakins

The retirement pension rose last month to £15.30 for a single person and £24.50 for a married couple. On the basis of price movements up to October 1976, the latest date for which figures are available, the real value of the single rate is 18.5 per cent. (£2.40) higher than that of the pension current in December 1973, while the real value of the married rate is 17.6 per cent. (£3.65) higher.

Mr. Tebbit

asked the Secretary of State for Social Services if he will list the real value—in current terms—of a married couple's retirement pension in June 1970 and immediately before and immediately after each subsequent uprating.

Mr. Deakins

The information, in terms of price levels current in October 1976, the latest month for which the Index of Retail Prices is available, is as follows:

Cash Value Real Value in October 1976 terms
Date £ £
June 1970 … 8.10 18.16
September 1971
before uprating … 8.10 16.34
after uprating 9.70 19.56
October 1972
before uprating … 9.70 18.03
after uprating … 10.90 20.26
October 1973
before uprating … 10.90 18.44
after uprating … 12.50 21.14
July 1974
before uprating … 12.50 18.63
after uprating … 16.00 23.85
April 1975
before uprating … 16.00 20.26
after uprating … 18.50 23.43
November 1975
before uprating … 18.50 20.98
after uprating … 21.20 24.04

In November 1976 the £21.20 pension was raised to £24.50.