§ Mr. Hordernasked the Secretary of State for Social Services what would be the cost of allowing those who have reached the age of 60 years and who have been unemployed for over a year to be eligible for retirement benefit.
§ Mr. RossiOn the assumption that other conditions for retirement pension applied on the exising basis, it is estimated that the net extra cost to central Government funds at November 1982 benefit levels would be £360 million. This assumes payment to some 270,000 men between age 60 and 65 who have not worked for at least a year, and takes account of the effects on tax and contribution revenue, as well as benefit expenditure. The estimate takes no account, however, of behavioural changes amongst those now in employment. Costs would increase if a proportion of such men were attracted into early retirement by the proposal.