§ Mr. SpearingTo ask the Secretary of State for Social Security if he will estimate the cumulative sums saved by the Exchequer and his Department by the departure and domicile of those qualified for United Kingdom old age pensions, by virtue of their exemption from uprating, for the decade 1985–95, in(a) Australia, (b) Canada, (c) New Zealand and (d) South Africa, stating for each the increased sums in sterling to which each as a basic pension would receive for a pension first paid in 1985. [33047]
§ Mr. HealdIt is estimated that the cumulative cost' to the Social Security budget of paying all upratings of retirement pension from November 1985 to April 1994' to UK pensioners in the countries specified would have been(a) Australia £500 million, (b) Canada £275 million, (c) New Zealand £175 million, (d) South Africa £100 million.
The rate of basic pension payable to any individual depends on that person's national insurance contribution record. In November 1985, the rate payable to a person who fully satisfied the contribution conditions for a basic pension was £38.30. It is currently £58.85. Where the contribution conditions are not fully satisfied, a reduced pro rata pension is payable at rates varying from 98 per cent. to 25 per cent. of the full basic rate.
Note:
1 The cost figures are estimates rounded to the nearest £25 million.
2 The estimated cost of paying the April 1995 uprating to pensioners in countries where UK pensions are not uprated is not yet available.
§ Mr. DenhamTo ask the Secretary of State for Social Security, pursuant to the answer of 3 July,Official Report, column 79, if he will estimate the percentage of pensioners retiring on an income between 75 per cent. and 100 per cent. of average earnings; and what figure has been used as average earnings. [33710]
623W
§ Mr. HealdIt is estimated that 12 per cent. of recently retired pensioner units have an income between 75 and 100 per cent. of average earnings. The average earnings figure used for the reply is £304.60 per week.
Source:
Family Expenditure Survey 1992.
Employment Gazette, February 1995.
Notes:
1. Average earnings are based on full time employees on adult rate in all industries and services for 1992.
2. Recently retired pensioner units are defined as single pensioner units and married couples where the individual or head of the household is less than five years over state pension age.
§ Mr. DenhamTo ask the Secretary of State for Social Security, pursuant to the answer of 3 July,Official Report, column 79, if he will estimate the expenditure on rebates to members of contracted out money purchase schemes in (a) 2010, (b) 2020 and (c) 2030; and what estimate he has made of the number of members of (i) APPS and (ii) COMPS in each of those three years. [33711]
§ Mr. HealdThe estimated expenditure on the rebate for contracted-out money purchase schemes and the estimated numbers of members of appropriate personal pensions and COMPS are shown in the table. The level of the rebate will be reviewed regularly under the terms of the Pensions Bill 1995.
Year APP numbers 000s COMPS numbers 000s COMPS rebates £ billion 2010 4,200 400 0.2 2020 3,600 400 0.3 2030 2,800 400 0.3 (Figures based on the assumptions detailed in the Government Actuary's report on the Pensions Bill 1995 CM 2714).