Graded Pension Scheme

Oral Answers to Questions — Pensions and National Insurance – in the House of Commons at 12:00 am on 26 January 1959.

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Photo of Mr John McKay Mr John McKay , Wallsend 12:00, 26 January 1959

asked the Minister of Pensions and National Insurance what will be the total pension, the flat-rate pension remaining as at present, for a single man with a wage of £12 per week after he has paid to the proposed graded pension scheme, who reaches the age of 65 years after fifteen years' contributions to the scheme.

Photo of Mr John Boyd-Carpenter Mr John Boyd-Carpenter , Kingston upon Thames

If the man's wages were £12 net after payment of National Insurance contributions, and he retired at the minimum pension age of 65. the pension would be £2 18s.

Photo of Mr John McKay Mr John McKay , Wallsend

Is it correct to say that after forty-seven years the man will get a pension of about 70s. a week after paying a total of 10s. 10d. a week? Is the right hon. Gentleman further aware that a man with a similar wage paying contributions for forty-seven years will get a pension of £6 14s. a week under the Labour Party proposal, taking it in conjunction with the pay-as-you-go principle?

Photo of Mr John Boyd-Carpenter Mr John Boyd-Carpenter , Kingston upon Thames

I do not see how a question about what a man gets after forty-seven years arises out of the hon. Gentleman's Question about what a man will get after fifteen years, but no doubt the House will have the opportunity to debate the matter tomorrow.