§ 21. Mr. BatesTo ask the Secretary of State for Social Security what percentage of pensioners retiring(a) in 1979 and (h) in the latest year for which figures are available had incomes from savings; and what was the real average level of savings on each of those dates.
§ Miss WiddecombeIn 1979, 68 per cent. of recently retired pensioners received income from savings; the 1988 figure was 78 per cent. At 1988 prices, the income from savings of these pensioners was £ 12 per week in 1979 and £ 26.30 in 1988.
Recently retired pensioners are defined as single women aged 60 to 64, single men aged 65 to 69 and couples in which the man is aged 65 to 69. This provides an adequate sample for analysis of the data.
Changes to national insurance benefits: estimated expenditure effects Great Britain: £ million Financial year introduced Cash effect1 Cash effect (1992–93 prices) Uprating of long-term benefits by prices 1981–82 -280 -520 5 per cent, abatement in uprating of invalidity benefit, unemployment benefit, sickness benefit and maternity allowance 1981–82 -160 -300 Abolition of earnings related supplements to short-term benefits 1982–83 -390 -680 Introduction of statutory sick pay2 1983–84 -10 -20 Restoration of 5 per cent, abatement of UB 1984–85 80 130 Offsetting of invalidity benefit age addition by additional pension 1986–87 -140 -200 Restoration of 5 per cent, abatement of IVS 1986–87 120 170 Extension of statutory sick pay2 1986–87 -80 -120 Introduction of statutory maternity pay2 1987–88 40 60