§ Mr. CousinsTo ask the Secretary of State for Social Security if he will estimate the size of a money purchase pension fund required to purchase(a) a level and (b) an indexed annuity equivalent to the difference between the basic state pension and the minimum income guarantee for (i) a woman aged 60 years, (ii) a man aged 65 years and (iii) a married couple with a basic pension eligibility earned through a single partner. [130799]
§ Mr. RookerThe information is in the table.
The capital sum required to purchase an annuity to provide an annual income equalling the difference between the basic state pension and the minimum income guarantee in 2000–01 based on the annuity rates available in July 2000 £ Level annuity Indexed annuity Woman aged 60 7,600 11,100 Man aged 65 6,100 8,000 Married couple, both aged 65 9,000 12,500 Note
Figures rounded to the nearest £100
Anyone considering taking out an Occupational Pension would want to consider the State Second Pension and SERPS.