§ Mr. Austin Mitchellasked the Minister for the Civil Service whether he will publish information in the Official Report showing the extent to which pension funds have increased in value in line with inflation, showing (a) the estimated proportion which has gained in value as much as inflation since 1970 and (b) the proportion which has exceeded 50 per cent, and 75 per cent, respectively, of this figure.
§ Mr. ChannonInformation on individual pension funds is not available but total pension fund holdings are published by the Central Statistical Office inFinancial Statistics. At 31 December 1970 and 31 December 1979, these were as follows:
£ million market value 31 December 1970* 7,782 31 December 1979* 34,376 * Including figures at 31 March of the following year for local authority pension funds. Over the same period retail prices increased by a factor of 3.20.
249WThese figures reflect surpluses of receipts from contributions over expenditure on benefits, as well as investment performance. In assessing the financial position of pension funds, account must be taken of accruing liabilities as well as assets.