HL Deb 25 November 1993 vol 550 cc9-10WA
Lord Simon of Glaisdale

asked Her Majesty's Government:

What would be the respective effects in public expenditure of equalising the retirement age for national insurance at,

  1. a. 65;
  2. b. 63; and
  3. c. 60.

Viscount Astor

At today's prices, the effects on public expenditure in 2025 of equalising state pension age would be:

  1. a. at 65: a saving of £5 billion;
  2. b. at 63: a saving of £½ billion;
  3. c. at 60: a cost of £7 billion.