§ Mr. MeacherTo ask the Secretary of State for Social Security (1) what was 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 5 per cent. per year and average earnings rise 7 per cent. per year;
(2) if he will give his latest estimate of the average additional component from the state earnings-related pension scheme on top of the basic retirement pension payable each year since 1978 for persons who retired each year since then on average earnings; and what he estimates the additional component will be to 1998 on the basis of the Treasury forecasts of rises in prices and earnings.
789W
§ Mrs. Gillian Shephard[holding answers 13 February and 26 February 1990]: Information as available is set out in the table. The amounts apply to a person in full-time employment who has been paid average earnings since April 1978, has never contracted out of the state earnings-related pension scheme and retires on 6 April in each year, assuming price rises of 5 per cent. per year and average earnings increase by 7 per cent. per year effective from April 1991.
Year of retirement Additional pension at retirement (£ per week) 1978 nil 1979 0.95 1980 2.20 1981 3.95 1982 6.20 1983 8.45 1984 10.80 1985 13.55 1986 16.50 1987 20.20 1988 24.35 1989 29.25 1990 35.65 1991 41.30 1992 47.55 1993 54.50 1994 62.45 1995 71.10 1996 80.70 1997 91.35 1998 103.15