Graduated Pension Scheme

Oral Answers to Questions — Ministry of Pensions and National Insurance – in the House of Commons at 12:00 am on 27th April 1964.

Alert me about debates like this

Photo of Alice Cullen Alice Cullen , Glasgow Gorbals 12:00 am, 27th April 1964

asked the Minister of Pensions and National Insurance what pension a man will receive who has contributed at the maximum rate since the inception of the graduated pension scheme and retires in 1975.

Photo of Mrs Margaret Thatcher Mrs Margaret Thatcher , Finchley

On the unlikely assumption that no changes in pension rates or contribution liability have been made by 1st June, 1975, a man of 65 then retiring would receive a total pension of £4 5s. 6d. (single) and £6 7s. (married) and a man of 70 £5 11s. (single) and £8 3s. (married).

Photo of Alice Cullen Alice Cullen , Glasgow Gorbals

Surely this is a farcical amount? Surely the Minister could agree that this is not a pension scheme—that it is really a tax measure to avoid new taxes and the Government carrying out their responsibility?

Photo of Mrs Margaret Thatcher Mrs Margaret Thatcher , Finchley

I cannot agree that the amounts are farcical amounts. I think that if one takes account of the increasing benefit paid to an increasing number of beneficiaries one must expect to have both increasing contributions and taxes.