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Retirement Pension

Volume 951: debated on Tuesday 13 June 1978

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asked the Secretary of State for Social Services what increase in real terms there has been in the retirement pension since 1974.

The fairest comparison of the real value of retirement pensions is between uprating dates. When the Government took office in 1974, the rates of pension then in force were those introduced in October 1973. Between October 1973 and November 1977, when the rates were last increased, retirement pensions increased by over 15 per cent. in real terms. Between October 1973 and November 1978, when pensions are to be increased again, it is expected that the increase in real value will be 21 per cent.