§ Ms HarmanTo ask the Secretary of State for Social Security what estimate he has made of the cumulative gross cost to public funds of implementing the basic pension plus proposals between 2001 and 2040. [20993]
§ Mr. HealdIt is not possible to give a precise cumulative cost since that will depend on when the scheme is introduced and what the initial age limit is. The overall cost to public funds of implementing basic pension plus, including the new rebates and reversing the timing of tax relief, will rise on average by about £160 million in each year following implementation reaching a maximum of about £7 billion by 2040 or later.
§ Ms HarmanTo ask the Secretary of State for Social Security if he will publish the Government Actuary's advice on which he has based his estimate that a person on average earnings paying minium contributions to basic pension plus throughout their life would receive a pension of around £150 a week. [20994]
§ Mr. HealdThe Government Actuary's assumptions, on which the estimated pension of £175 per week for a person on average earning was based, are shown in the reply I gave to the hon. Member on 11 March,Official Report, columns195–96.