Skip to main content

Pension Incomes

Volume 226: debated on Monday 7 June 1993

The text on this page has been created from Hansard archive content, it may contain typographical errors.

To ask the Secretary of State for Social Security how much total pension incomes increased per annum between (a) 1974 and 1979 and (b) 1979 and 1992.

Estimates of pensioners' income for 1974 have not yet been calculated on a basis consistent with those for 1989, the latest year for which data are available. However, our most recent comparable estimates show that annual increases in pensioners' incomes were, on average:

  • (a) between 1974 and 1979–0·6 per cent. a year; and
  • (b) between 1979 and 1988–3·3 per cent. a year.
  • Active members (millions)All members (millions)Estimated liabilities (£ million)Average liability per active member (£)Average liability per member (£)
    Public sector unfunded2·85·2170,00060,00033,000
    Private/public sector funded7·814·9430,00055,00029,000
    All schemes10·620·1600,00057,00030,000

    Source: Government Actuary's Department.

    Notes:

    (a) Numbers of scheme members are based on 1987 GAD Survey of Occupational Pension Schemes.

    (b) Estimates of scheme liabilities are for 1991 and are given at 1991 prices.

    (c) Estimates of average liability per scheme member are illustrative and assume that sectoral scheme membership did not change between 1987 and 1991.

    (d) Active members are those currently contributing to the scheme. All members includes deferred pensioners and beneficiaries.