§ Mr. George Cunninghamasked the Secretary of State for Social Services what is the Government's present estimate of the actuarial equivalent at age 60 years of £1 of pension payable at age 65 years for men, women, and all persons, respectively.
§ Mr. RossiThe actuarial equivalent at age 60 of a pension of £1 at age 65 is 64p for men and 71p for women, or 68p for all persons. These figures are derived by using current estimated population mortality rates and assume that investment returns available will exceed by 2½ per cent. pension increases in line with prices. The figures are based solely on making equivalent payments of pensions and no account has been taken of any contributions which might be payable by the individual to the scheme and which would be payable for a shorter period if pensions were to be payable earlier.