§ Mr. Meacherasked the Secretary of State for Social Services if he will indicate the average additional component payable each year since 1978 on top of the basic retirement pension for persons who retired each year since then on average earnings; and what he estimates the additional component will be each year from now until 1998 if prices rise 3 per cent. per year and average earnings rise 5 per cent. per year.
§ Mr. MajorThe information requested is shown in the table. The amounts apply to a person in full-time employment who has consistently earned at the level of average male earnings since 1978, who is not contracted out of the state earnings-related pension scheme, and who retires on 6 April in each year. The amounts are weekly and rounded to the nearest 5p.
124W
Year Amount of additional component £ 1978 nil 1979 0.95 1980 2.20 1981 3.95 1982 6.20 1983 8.45 1984 10.80
Year Amount of additional component £ 1985 13.55 1986 16.25 1987 20.05 1988 23.85 1989 27.50 1990 31.40 1991 35.75 1992 40.50 1993 45.45 1994 51.05 1995 56.90 1996 63.50 1997 70.35 1998 78.05