§ Ms CorstonTo ask the Secretary of State for Social Security, pursuant to his answer of 14 March,Official Report, column 757, what is the Government Actuary's assumption of the numbers of pensioners receiving and likely to receive a state earnings-related pension in 1994–95,1995–96,2000–01,2010–11,2020–21 and 2030–31. [26449]
§ Mr. HealdThe estimated number of recipients of the state-earnings-related pension was 4.2 million in 1994–95 rising to 4.6 million in 1995–96.
Estimates of the number of future recipients are not available.
Note: Figures are rounded to the nearest 0.1 million.
Source: The Government Actuary's Department.
§ Ms CorstonTo ask the Secretary of State for Social Security, pursuant to his answer of 14 March,Official Report, column 757, what was the estimated total cost of (a) flat rate retirement pensions and (b) state earnings-related pensions for the United Kingdom in 1995–96, in pounds sterling and as a percentage of gross domestic product; and what is the Government Actuary's estimate of these costs, allowing for the provisions of the Pensions Act 1995 in respect of pensionable ages for women, at 1995–96 prices, assuming (i) price uprating and (ii) earnings uprating of flat-rate benefits and the earnings limits in (1) 2000–1, (2) 2010–11, (3) 2020–21 and (4) 2030–31. [26452]
559W
§ Mr. HealdThe information is not available in the format requested. The information given in the table is for Great Britain, but includes the cost of pensions paid to persons residing overseas.
The tables give the expenditure figures and the Government Actuary's estimates of future costs allowing for all the provisions of the 1995 Pensions Act.
Table 1: 1995–96 expenditure Total cost £ billion Percentage of GDP Basic pension 27.9 3.9 State earnings-related pension (SERPS) 2.3 0.3 Notes:
- 1. Expenditure figures are rounded to the nearest £0.1 billion and percentages are rounded to the nearest 0.1 per cent.
- 2. The underlying GDP figure is that shown for 1995–96 in table 6A.1 of the Financial Statement and Budget Report 1996–97.
Source:
Social Security Departmental Report, March 1996-Cm 3213.
Table 2: Basic pension: estimated future expenditure at 1995–96 prices £ billion 2000–1 2010–11 2020–21 2030–31 (i) Prices uprating 30.4 34.3 36.0 42.8 (ii) Earnings uprating 33.3 43.5 52.9 73.2
- 1. Costs are based on the assumptions underlying the Government Actuary's report on the effects of the Pensions Bill 1994 on the national insurance fund, Cm 2714.
- 2. Figures are rounded to the nearest £0.1 billion.
Table 3: SERPS: estimated future expenditure at 1995–96 prices £ billion 2000–1 2010–11 2020–21 2030–31 (i) prices uprating 4.3 8.6 11.1 12.3 (ii) earnings uprating of lower and upper earnings limits for SERPS accrual 4.2 8.5 10.9 11.8
- 1. Costs are based on the assumptions underlying the Government Actuary's report on the effects of the Pensions Bill 1994 on the national insurance fund, Cm 2714.
- 2. Figures are rounded to the nearest £0.1 billion.