§ Mr. Thomas Cox
asked the Chancellor of the Exchequer whether he will seek to increase the earnings limit ruling as it applies to retired people; and if he will make a statement.
§ Mr. Prentice
I have been asked to reply.
The earnings rule limit applicable to retirement pensioners in the first five years after pension able age—60 for women, 65 for men—was increased from £45 a week to £52 a week in November 1979. It will be increased again in November 1980 in line with the expected movement of earnings over the 12 months from November 1979. The Government are committed to phasing out the rule in the lifetime of this Parliament.