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Pensions (Cost Of Increase)

Volume 828: debated on Tuesday 21 December 1971

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asked the Secretary of State for Social Services what is his estimate of the cost of doubling the present retirement pension and of the resultant increase in the cost of the National Insurance stamp for those in employment.

For flat-rate retirement pensions alone, about £2,210 million a year which would require an increase of 90p a side on the employed man's flat-rate contribution if the cost were to be met in that way with the normal Exchequer supplement.