§ Mr. Leavey
asked the Minister of Pensions and National Insurance the maximum a bachelor who is 65 years of age on 1st January, 1958, can have paid in State insurance contributions; how much of that can be regarded as accruing exclusively to the retirement funds; how much, on the basis of current life expectation, such a man can be expected to draw as a retirement pension, assuming the new single rate of 50s. will be applicable and unchanged; and if he will give comparable figures in respect of a married man.
§ Miss Pitt
The maximum amount which an employed man who reaches 65 years of age on 1st January, 1958, can have paid in State insurance contributions since July, 1912 is about £240, whether he is married or single. Of this sum about £85 is attributable to retirement pensions. His employers would have contributed an approximately equal amount. A bachelor could expect to draw, on average, about £1,600 in retirement pension at the new rate. A married man and his wife, if she were five years younger than himself, could between them expect to draw about £3,500.