Graded Pension Scheme

Part of 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

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?