§ Ms CorstonTo ask the Secretary of State for Social Security what is his estimate of(a) the number of pensioners (i) aged 75 years and over and (ii) aged under 75 years and (b) the cost of the flat-rate basic retirement pension, at 1995–96 prices, for the years (1) 199.5–96, (2) 2000–2001, (3) 2010–2011, (4) 2020–2021 and (5) 2030–2031. [8016]
§ Mr. HealdThere are 4.3 million pensioners aged 75 years and over, and 6.2 million pensioners aged under 75 at 31 March 1996.1
Estimates for the expenditure on basic state retirement pension at 1995–96 prices for the specified years are given in the table.2
1995–96 prices £ billion Year Expenditure on basic state retirement pension for pensioners aged under 75 Expenditure on basic state retirement pension for pensioners aged 75 and over Total expenditure on basic state retirement pension 1995–96 15.9 11.0 26.9 2000–01 16.8 12.8 29.5 2010–11 19.8 13.5 33.3 2020–21 19.4 15.8 35.3 2030–31 22.7 19.8 42.5 Notes: 1 Figures are for all countries and are rounded to the nearest 100,000. State retirement pension includes all contributory and non contributory state pensions. 2 Figures are rounded to the nearest £100 million. Source:
Government Actuaries Department.
Contributory basic retirement pension: the Government Actuary's Department. The figure for 1995–96 is based on the draft accounts for the national insurance fund for 1995–96. The figures for 2000–2001 onwards are based on the report by GAD on the "Financial Effects of the Pension Bill 1994 on the National Insurance Fund", Cm 2714, and assume price uprating of benefits and the equalisation of state pension ages at 65 by 2020. The expenditure on basic state retirement pension for pensioners above and below the age of 75 has been calculated using GAD population projects.
Non-contributory retirement pension: departmental estimates based on the departmental report.