§ Ms HodgeTo ask the Chancellor of the Exchequer how many staff of(a) the Treasury and (b) agencies for which the Treasury is responsible (i) took early retirement, (ii) took voluntary redundancy, (iii) took compulsory redundancy and (iv) were retired on medical grounds in (a) 1993–94 and (b) 1994–95; and what are the projected figures for 1995–96. [25418]
§ Mr. NelsonThe information for the Treasury is as follows:
Voluntary redundancy Early retirement Severance Other early retirement Compulsory redundancy Medical 1993–94 5 2 11 2 3 1994–95 6 10 11 0 11 1995–96 114 13 11 10 11 1 Figures for 1995–96 are those known at 1 May 1995. The Treasury is not responsible for any agencies.
§ Ms HodgeTo ask the Chancellor of the Exchequer what is the annual cost to the Department of staff leaving under redundancy or early retirement schemes to incorporate (i) added years lump sum payment (ii) redundancy payments (iii) pension payments including enhancements and (iv) any other special arrangements for(a) 1993–94, (b) 1994–95, and projected for (c) 1995–96 and (d) 1996–97. [25637]
§ Mr. NelsonStaff leaving the Treasury under redundancy or early retirement schemes are eligible for compensation payments under the principal civil service pensions scheme. The scheme distinguishes between early retirement, with immediate payments of pensions benefits, and early severance, with immediate payment of lump sum compensation and pension benefits preserved for payment at age 60. Individual payments are age, salary and service related.
The cost to the Department of staff leaving under these schemes are a mixture of benefits payable immediately, which may include compensation lump sum and/or pension, plus cost arising over a longer term—for example, the annual compensation to staff under the age of 60. The table separately identifies these immediate and longer-term costs, so far as they can be determined.
1993–94£ 1994–95£ 1995–96£ Immediate costs Lump sum compensation 130,302 432,195 827,534 Enhancement to lump sum 49,983 64,050 235,266 Longer term costs Enhancement to pension1 16,659 21,346 78,420 Cost of paying pension per-age 60 729,789 949,143 2,933,485 1£ rate p.a.