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Type
House
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Department
Member
Primary member
Answering member
Legislative stage
Legislation
Subject
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Age addition (1)
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To ask the Secretary of State for Social Security, what would be the value of the 25p age addition to the state pension in 1998-99 if it had been uprated in line with (a) prices and (b) earnings since its introduction; and if he will estimate how much it would...
To ask the Secretary of State for Social Security, what would be the value of the 25p age addition to the state pension in 1998-99 if it had been uprated in line with (a) prices and (b) earnings since its introduction; and if he will estimate how much it would...
Asked by
Edward O'Hara
(Labour)
Answered by
John Denham
(Labour)
Answering body
Department of Social Security
Type
Written questions
Status
Answered
Tabled on
13 November 1997
For answer on
26 November 1997
Answered on
26 November 1997
Mr. O'Hara: To ask the Secretary of State for Social Security what would be the value of the 25p age addition to the state pension
in 1998-99 if it has been uprated in line with (a) prices and (b) earnings since its introduction; and if he will estimate how much
it would cost to increase it to those levels. [16543]
Mr. Denham: The value of the 25p age addition to the State Pension in 1998-99 would be £1.75 if uprated in line with prices and
£3.95 if uprated in line with earnings, since its introduction.
The table shows the estimated additional gross and net costs of paying the age addition at these levels for 1998-99. All costs are
rounded to the nearest £10 million.
£ million
_________________________________________________________________________________________________.
Age addition in 1998--99 Uprated by prices Uprated by earnings
Gross cost 190 460
Net cost 110 270
_________________________________________________________________________________________________.
1. The figures for the value of the age addition were calculated using the Retail Price Index (All items) and the Average Earnings
Index (Whole Economy) as supplied by the Office for National Statistics. The figure for September 1997 earnings is provisional. The
value of the age addition has been rounded to the nearest 5 pence at each uprating.
2. The gross costs were estimated by Government Actuary's Department. The net costs by the Department of Social Security.
Subjects
Pensioners; Social security benefits; State retirement pensions; Uprating; Age addition
Date
26 November 1997
Reference
16543; 301 c571W
House
House of Commons