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Pensions (Commutation)

Volume 50: debated on Wednesday 19 March 1913

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32.

asked the Chancellor of the Exchequer if he will state what was the total amount at the 31st December, 1912, paid in commutation of pensions under the Commutation Acts of 1871 and 1882, distinguishing the sums paid for pensions wholly commuted from those partially commuted; and what were the sums paid for partial commutations upon which the estimated profit of £200,000 has been made?

The total amount at the 31st December, 1912, paid in commutation of pensions under the Commutation Acts of 1871 and 1882 was £6,291,898, namely:—

£
For pensions wholly commuted4,507,041
For pensions partially commuted1,784,857

The sums paid for partial commutations, upon which the estimated profit of £200,000 has been made, amounted to £1,588,276.