§ Mr. Michael Brownasked the Secretary of State for Social Services what is the average length of time for which men defer retirement.
§ Mr. RossiFor those men who defer their retirement for national insurance purposes beyond the pensionable age of 65, the average period of deferred retirement is about 2½ years. About one-quarter of those who defer retirement in this way do so for the full period of five years up to age 70 when, for national insurance purposes, retirement is assumed, whether the individual has retired or not.
§ Mr. Michael Brownasked the Secretary of State for Social Services how much a single man would initially lose by deferring his basic retirement pension for five years; and how much he would gain from the increments he would receive on the assumptions of constant prices and that he died at the age of 78 years.
§ Mr. RossiOn the assumption of constant prices, a single man who deferred his basic retirement pension at the current standard rate of £27.15 for five years, would have foregone £7,059. Assuming he died at the end of his 78th year, he would, in the eight years since reaching age 70, have received about £4,195 by way of increment.