§ Mr. Freudasked the Chancellor of the Exchequer what was the initial expenditure of publicising index-linked savings bonds; and what has been done to acquaint new pensioners with the existence of these bonds.
§ Mr. Denzil DaviesWhen the retirement issue national savings certificate was launched in June 1975, it was supported by a publicity campaign costing some £218,000. As part of this campaign, descriptive leaflets were given to all pensioners drawing their pensions at post offices or were sent to those who were paid direct.
During the two succeeding years there have been continuing campaigns advertising retirement issue certificates in addition to editorial articles, many in publications specifically for the elderly, and mentions in general national savings advertisements.
§ Mr. Freudasked the Chancellor of the Exchequer whether he is satisfied that the figure of 13 per cent. of pensioners who have availed themselves of index-linked savings certificates is not due to failure on behalf of his Department to publicise the existence thereof.
§ Mr. Denzil DaviesI am satisfied with the level of widespread publicity given to retirement issue national savings certificates in post offices and in general advertising. These index-linked securities also obtain frequent mention in the Press. There is no direct way of connecting current sales with new pensioners, but the number of sales to first-time buyers in 1977 was around 460,000 and the numbers of men and women reaching the age of 65 and 60 respectively in that year is estimated at around 560,000.