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Retirement Age

Volume 941: debated on Wednesday 14 December 1977

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asked the Secretary of State for Social Services what is his estimate of the cost of giving men the opportunity to retire on full pension at age 64 years.

On the assumption that the pattern of retirement amongst men aged 64 to 69 would be the same as it is now amongst men aged 65 to 70, the additional annual cost to the National Insurance Fund of a reduction in men's pensionable age to 64 is estimated to be about £370 million, at current contribution and benefit rates.