§ 25. Mr. RiddickTo ask the Secretary of State for Social Security what representations he has received about the percentage of pensioners retiring(a) in 1979 and (b) in the latest year for which figures are available, who had incomes from savings; and what was the real average level of savings on each of those two dates.
§ Miss WiddecombeMy ministerial colleagues and I receive representations from many people about pensioner issues. I am able to inform them that 68 per cent. of pensioners who had recently retired in 1979 had income from savings, rising to 78 per cent. by 1988. The average
100W
Month (1992) Rent Allowances1 £ Rent Rebates (Non-HRA)1 £ Rent Rebates (HRA)2 £ Total £ January 1,450,750 268,599 3,688,722 5,408,071 February 2,006,221 268,599 3,688,723 5,963,543 March 2,006,221 268,599 no payment 2,274,820 April 2,516,687 330,750 no payment 2,847,437 May 2,516,687 330,750 4,277,595 7,125,032 June 2,516,687 -786,1903 4,277,595 6,008,092 income from savings of all recently retired pensioners, at 1988 prices, was £12 per week in 1979 and £26.30 in 1988. Reliable information on the level of savings is not available in the form requested.
Source: Family Expenditure Survey.