§ Dr. Mawhinney
asked the Secretary of State for Education and Science what was the total balance of the teachers' superannuation account for England and Wales on 31 March 1976; and how much the surplus of receipts was over payments from the fund in each financial year from 1976–77 to the present.
§ Dr. Boyson
The balance in the notional fund on 31 March 1976 was £3,138,566,000. The annual surpluses since then have been:
£ 1976–77 229,616,000 1977–78 224,585,000 1978–79 232,757,000 1979–80 236,956,000
The total balance in the fund represents the Exchequer's liability to pay superannuation benefits for many years to come in respect of all teachers who are currently members of the scheme.