Skip to main content

State Pension: Current Liability

Volume 621: debated on Thursday 8 February 2001

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

asked Her Majesty's Government:What is the estimated present value of the Government's liability to pay the basic state pension to the existing working and retired population (including those receiving credits) during their lifetimes; and what discount rate is applied in these calculations. [HL541]

The precise information requested is not readily available. The latest estimates of the present value of the liability for state pensions including the basic state pension are published in the Inland Revenue Statistics 2000 in table 13.4. A copy is available in the Library. The real discount rate applied to this calculation is 3 per cent consistent with the latest quinquennial review.