§ Sir Brandon Rhys Williamsasked the Secretary of State for Social Services what proportion of the national income will be required to be set aside for the provision of retirement benefits on the present national insurance scales in 2025–26 assuming real purchasing power of the benefits remains unchanged.
§ Dr. BoysonThe answer would depend very much on the assumptions made about economic growth over the period to 2025–26. These issues will be considered by the inquiry into provision for retirement announced by my right hon. Friend on 23 November.—[Vol. 49, c. 360].
§ Sir Brandon Rhys Williamsasked the Secretary of State for Social Services what proportion of the national insurance contribution rate will be required in 2025–26 to fund the earnings-related component of the retirement benefits.
§ Dr. BoysonEstimates of future contribution rates vary depending on the assumptions made about real growth of incomes and future unemployment levels, and on decisions about the uprating of benefits taken over the intervening period. A range of illustrative projections are set out in the report by the Government Actuary on the first 193W quinquennial review under the Social Security Act 1975 (HC 451). I refer my hon. Friend particularly to tables 12 and 14 on pages 43 and 45.