§ Mr. Eldon Griffithsasked the Minister for the Civil Service what is the estimated capital cost at current prices of providing for the inflation-proof pensions now receivable on retirement by the following grades of civil servants: clerical officer, higher executive officer, administrative officer, principal, assistant secretary, under-secretary and deputy secretary.
§ Mr. Charles R. MorrisThe actuarially calculated capital values of pension on retirement for the grades specified* are set out below. The calculations include the cost of inflation-proofing but exclude lump sums and widow's benefits. They assume average length of service and ages-at retirement from these grades in 1977 and 1978, average male life expectancy for civil servants, and retirement on the 173W top of the relevant salary scale (where applicable), excluding London weighting.
* Excluding administrative officer: this is a departmental grade with only 1 Officer in post and no retirements during the data base period.
Capital value at retirement (money values at 31 March 1979) Grade £ Clerical officer 9,800 Higher executive officer 30,800 Principal 50,500 Assistant secretary 72,900 Under-secretary 79,900 Deputy secretary 92,000