§ Mr. GapesTo ask the Secretary of State for Social Security if he will recalculate the figures in table 6, para 7.12 of "Options for Equality in State Pension Age"(a) on the basis of current prices and (b) on the assumption that an individual reverted to the full basic state pension at 70 years of age. [9162]
§ Mr. HealdThe information is in the tables:
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Table 6, paragraph 7.12 of options for equality in state pension age: recalculated on the basis of 1996–97 benefit rates Basic pension available at different ages 1996–97 prices Age 63 "pivot"1 Age 65 "pivot"1 60 49 42 61 53 45 62 56 48 63 61 53 64 66 56
Table 6, paragraph 7.12 of options for equality in state pension age: recalculated on the basis of 1996–97 benefit rates Basic pension available at different ages 1996–97 prices Age 63 "pivot"1 Age 65 "pivot"1 65 72 61 66 77 66 67 84 72 68 92 79 69 101 86 70 110 95
Table 6, paragraph 7.12 of options for equality in state pension age: recalculated on the basis of 1996–97 benefit rates assuming pension increases to full basic pension at age 70 for those retiring before the pivot Basic pension available at different ages Age 63 "pivot"1 Age 65 "pivot"1 60 40 27 61 45 31 62 52 35 63 61 41 64 66 49 65 72 61 66 77 66 67 84 72 68 92 79 69 101 86 70 110 95 Note: In the second table, it has been assumed that where someone retired before the pivot age then their reduced pension will be increased to the full basic rate when they get to 70. For those that retire after the pivot age, and thus receive a higher initial pension, it has been assumed that this higher rate of pension will continue to be paid after age 70. 1 Pounds per week at 1996–97 prices. Source:
Government Actuary's Department.