§ 23. Mr. TraceyTo ask the Secretary of State for Social Security what proportion of pensioners make mortgage repayments; and how much of next April's rise in the basic state pension is attributable to rising interest and mortgage rates in the 12 months to September of this year.
§ Mrs. Gillian ShephardI refer my hon. Friend to my reply to my hon. Friend the Member for Cambridgeshire, North-East (Mr. Moss) earlier today.
§ Mr. Bill WalkerTo ask the Secretary of State for Social Security what proportion of pensioners make mortgage repayments; and how much of next April's rise in the basic state pension is attributable to rising interest and mortgage rates in the 12 months to September of this year.
§ Mrs. Gillian ShephardAs my hon. Friend will be aware, the retirement pension will be increased by 10.9 per cent. from April 1991, honouring the Government's commitment to protect fully the value of the state pension against changing prices. The corresponding September figure for the retail prices index less mortgage interest payments was 9.5 per cent. The latest information shows that, in 1987 49 per cent. of pensioners owned their own homes and 4 per cent. were making mortgage repayments.