§ Mr. Ovendenasked the Secretary of State for Social Services if he remains satisfied that the increase in retirement pensions due on 13th November will correspond to the increase in average earnings for the preceding year.
§ Mr. OrmeThe increase in retirement pensions due in the week beginning 13th November was based on a forecast of the likely increase in the general level of earnings over the period from November 1977 to November 1978. The actual increase in earnings over that period will not be known until the figures for November 1978 are available but there is as yet no clear evidence that the increase in retirement pensions will not correspond to the increase in earnings.
§ Mr. Ovendenasked the Secretary of State for Social Services how the increase in retirement pensions between November 1974 and November 1978 compares with the increase in retail prices and average earnings, respectively.
§ Mr. OrmeIn 1974 pensions were increased in July, not November. The new pension rates to be introduced next week are 95 per cent. higher than those introduced in July 1974. The relevant prices and earnings figures for November 1978 are not yet available, but between July 1974 and September 1978 the general index of retail prices rose by 82 per cent. and between July 1974 and August 1978 average earnings—as measured by the movement in the Department of Employment's monthly index of 375W average earnings of all employees (old series), seasonally adjusted—rose by 84 per cent. The dates referred to are the latest dates for which figures are available.