HC Deb 21 February 1986 vol 92 cc383-7W
Mr. Deakins

asked the Secretary of State for Social Services what criteria are to be used in determining the social fund budget for each local Department of Health and Social Security office.

Table P1A
Males more years with earnings
Pension projections (£ per week at November 1985 prices) Excluding 2 per cent. Bonus Rebate
Age in 1988 Earner Modified SERPS Personal Pensions Occupational money purchase pension schemes
Rebate only Rebate + 2 per cent. Rebate + 2 per cent. Rebate + 4 per cent.
*rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4
per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent.
16 Low 64 70 75 81 89 97 106 91 99 108 110 121 133
Middle 93 103 112 123 142 156 172 145 159 176 185 204 227
High 116 128 140 154 182 201 223 186 206 228 242 268 298
20 Low 63 68 72 77 85 91 98 86 92 99 103 111 121
Middle 90 101 110 119 137 150 165 140 153 168 176 194 215
High 112 126 137 150 175 192 212 179 197 217 230 254 282
30 Low 61 64 66 69 75 78 82 76 79 83 87 92 97
Middle 88 92 96 101 115 122 130 117 124 132 141 151 161
High 109 111 117 123 143 152 161 146 155 164 179 191 204
40 Low 60 58 59 60 64 66 67 65 66 68 71 73 75
Middle 84 80 82 84 93 96 99 94 97 101 108 112 117
High 102 93 96 99 113 117 121 115 119 123 135 140 146

Table P2A
Males fewer years with earnings
Pension projections (£ per week at November 1985 prices)
Age in 1988 Earner Modified SERPS Personal Pensions Occupational money purchase pension schemes
Rebate only Rebate + 2 per cent. Rebate + 2 per cent. Rebate + 4 per cent.
*rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4
per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent.
16 Low 61 66 70 75 83 89 96 84 90 98 101 110 120
Middle 92 102 110 120 140 153 169 143 156 173 182 201 223
High 114 125 136 149 178 195 216 182 200 221 236 260 289
20 Low 60 65 69 73 80 86 92 81 87 94 96 104 113
Middle 89 100 108 117 135 147 161 137 150 165 173 190 210
High 110 124 135 148 173 191 211 177 195 216 228 252 280
30 Low 58 61 63 66 71 74 78 72 75 79 82 86 91
Middle 87 91 95 100 114 121 129 116 123 131 140 149 160
High 109 111 117 123 143 152 161 146 155 164 179 191 204
40 Low 57 56 57 57 61 62 63 61 62 63 66 67 69
Middle 84 80 82 84 93 96 99 94 97 101 108 112 117
High 102 93 96 99 113 117 121 115 119 123 135 140 146

Table P3A
Females more years with earnings
Pension projections (£ per week at November 1985 prices) Excluding 2 per cent. bonus rebate
Age in 1988 Earner Modified SERPS Personal Pensions Occupational money purchase pension schemes
Rebate only Rebate + 2 per cent. Rebate + 2 per cent. Rebate + 4 per cent.
*rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4
per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent.
16 Low 50 50 51 53 55 57 59 56 58 60 61 64 67
Middle 63 62 65 68 74 79 83 75 80 85 88 94 101

Mr. Newton

Decisions about the size of the fund itself and the allocation to local offices will be taken nearer the date of introduction.

Mr. Meacher

asked the Secretary of State for Social Services whether he will publish tables comparable to tables P1 to P6 in the technical annex to "Reform of Social Security," Cmnd. 9691, showing pension projections on the assumption that the contracted-out rebate is not boosted by the 2 per cent, incentive addition for the first five years.

Mr. Newton

[pursuant to his reply, 17 February 1986 c. 69–70]: The information requested is given in the tables. Tables P1A to P6A correspond to tables P1 to P6 respectively in the Technical Annex to the White Paper.

Age in 1988 Earner Modified SERPS Personal Pensions Occupational money purchase pension schemes
Rebate only Rebate + 2 per cent. Rebate + 2 per cent. Rebate + 4 per cent.
*rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4
per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent.
High 82 80 85 91 103 110 119 104 112 121 127 138 150
20 Low 50 49 50 51 53 54 56 54 55 56 58 60 61
Middle 62 60 62 64 70 73 77 71 74 77 82 86 90
High 80 78 81 85 96 101 107 97 103 109 116 123 131
30 Low 48 46 47 47 49 50 50 49 50 50 52 53 53
Middle 59 56 56 57 62 63 65 63 64 65 70 71 73
High 75 70 71 73 82 84 86 83 85 87 95 98 101
40 Low 46 43 44 44 46 46 46 46 46 46 48 48 49
Middle 57 51 52 52 56 57 57 56 57 58 61 62 63
High 71 62 63 63 70 71 73 71 72 73 79 81 83

Table P4A
Females fewer years with earnings
Pension projections (£ per week at November 1985 prices) excluding 2 per cent. bonus rebate
Age in 1988 Earner Modified SERPS Personal Pensions Occupational money purchase pension schemes
Rebate only Rebate + 2 per cent. Rebate + 2 per cent. Rebate + 4 per cent.
*rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4
per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent.
16 Low 50 50 51 52 54 56 58 55 56 58 60 62 64
Middle 62 62 64 67 71 75 79 72 76 80 82 86 92
High 81 80 84 88 97 103 110 98 104 111 116 124 133
20 Low 50 49 50 50 52 53 54 53 54 55 56 58 59
Middle 62 60 62 63 68 70 72 68 70 73 76 78 82
High 80 77 79 82 90 94 98 91 95 99 105 110 115
30 Low 46 45 45 45 47 47 47 47 47 47 49 49 50
Middle 55 52 52 52 56 57 58 57 57 58 61 62 63
High 68 62 63 64 71 72 73 71 73 74 80 82 83
40 Low 44 42 42 42 44 44 44 44 44 44 45 46 46
Middle 51 46 47 47 50 51 51 50 51 51 54 55 55
High 62 53 54 55 60 61 62 60 61 62 67 68 69

Table P5A
Widows retiring in 2008 onwards more years with earnings
Pension projections (£ per week at November 1985 prices) excluding 2 per cent. bonus rebate
Age in 1988 Earner Modified SERPS Personal Pensions Occupational money purchase pension schemes
Rebate only Rebate + 2 per cent. Rebate + 2 per cent. Rebate + 4 per cent.
*rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4
per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent.
20 Low 62 63 66 68 75 78 82 75 79 83 87 92 98
Middle 87 89 94 100 114 121 130 116 123 132 141 152 163
High 115 117 125 137 156 167 180 159 170 184 198 214 231
30 Low 60 58 59 60 65 66 68 65 67 68 72 74 76
Middle 83 79 81 84 95 99 103 96 100 104 113 118 123
High 109 101 104 108 126 131 137 128 133 139 153 160 168
40 Low 56 52 52 53 56 57 57 56 57 58 61 61 62
Middle 79 70 71 73 80 81 83 81 82 84 90 93 95
High 102 87 88 90 103 105 108 104 107 109 120 124 127

Table P6A
Widows retiring in 2008 onwards fewer years with earnings
Pension projections (£ per week at November 1985 prices) Excluding 2 per cent. bonus rebate
Age in 1988 Earner Modified SERPS Personal Pensions Occupational money purchase pension schemes
Rebate only Rebate + 2 per cent. Rebate + 2 per cent. Rebate + 4 per cent.
*rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4
per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent.
20 Low 60 62 64 66 71 75 78 72 75 79 82 87 92
Middle 86 88 92 97 110 116 124 111 118 126 133 142 153
High 114 116 122 130 149 159 170 152 162 173 186 199 214
30 Low 56 55 56 56 60 61 63 61 62 63 66 68 70
Middle 78 75 77 79 88 92 95 90 93 96 104 108 113

Age in 1988 Earner Modified SERPS Personal Pensions Occupational money purchase pension schemes
Rebate only Rebate + 2 per cent. Rebate + 2 per cent. Rebate + 4 per cent.
*rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4 rrr=3 rrr=3.5 rrr=4
per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent. per cent.
High 101 94 96 99 115 119 123 117 121 125 138 144 150
40 Low 53 49 49 50 52 53 53 53 53 53 56 56 57
Middle 74 66 67 68 74 75 77 75 76 77 83 85 87
High 93 78 80 81 92 95 97 94 96 98 108 111 114

*rrr = rate of return over prices.