§ Sir Brandon Rhys Williamsasked the Secretary of State for Social Services if he will publish figures, similar to those in table 1 of Cmnd. 9711, and using the same assumptions, setting out the Government Actuary's estimates of anticipated expenditure on the proposed new state earnings-related pension in each year between now and 2003–04.
§ Mr. NewtonThe proposed new arrangements for the state earnings-related pension scheme will not begin to take effect until 1999–2000 and savings will build up slowly at first. The estimated cost of SERPS retirement pensions in 2003–04 under the proposed new arrangements is £4.2 billion compared with an estimated £4.3 billion under the current arrangements. I regret that detailed figures for the years 1999–2000 to 2002–03 are not available.