§ Mr. McCrindleTo ask the Secretary of State for Social Security what is the estimated cost for equalising retirement ages for men and women at the ages of 60, 62, 63 and 65 years assuming everyone elects to retire at the specified age; and if he will make a statement.
§ Mr. Peter Lloyd[pursuant to his reply, 21 February 1989, c. 598]: I regret that the reply given has been found to contain an error. The information requested with the amended figures is as follows.
The most recent estimates, which are based on 1985–86 benfit rates, are that the approximate net annual cost to public funds of equalising state pension age at 60 years would be £3,000 million and at 63 years £800 million; equalisation at 65 years would save about £500 million. Estimates are not available for equalisation at 62 years.