§ Mr. FieldTo ask the Secretary of State for Social Security if he will calculate the outstanding liability to the state second pension for each of the next 40 years, in current price terms, and if all workers turning 25 years were from 2002 automatically contracted out of the state second pension at the standard occupational pension rate. [160524]
§ Mr. Rooker[holding answer 9 May 2001]: The benefit expenditure on State Second Pension is shown in the table.
£billion Year Cost 2001–02 0.0 2002–03 0.0 2003–04 0.0 2004–05 0.1 2005–06 0.1 2006–07 0.2 2007–08 0.4 2008–09 0.5 2009–10 0.7 2010–11 0.9 2011–12 1.1 2012–13 1.3 2013–14 1.5 2014–15 1.7 2015–16 2.0 2016–17 2.2 2017–18 2.4 2018–19 2.7 2019–20 2.9 2020–21 3.2 2021–22 3.6 2022–23 4.0 2023–24 4.4 2024–25 4.9 2025–26 5.3 2026–27 5.8 2027–28 6.3 2028–29 6.9 2029–30 7.5 2030–31 8.0 2031–32 8.6 2032–33 9.1 2033–34 9.7 2034–35 10.2 2035–36 10.7 2036–37 11.3 2037–38 11.9 2038–39 12.4 2039–40 12.9 2040–41 13.5 Notes:
1. Figures are expressed in 2001–02 price terms.
2. Costs allow for the introduction of stakeholder pensions and assume State Second Pension becomes a flat-rate scheme in 2006–07.
3. There is no additional benefit expenditure for these years if all employed earners turning 25 years contract out of the State scheme from 2002.
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