Report of the Committee on the Economic and Financial Problems of the Provision for Old Age.

  • Great Britain. Committee on the Economic and Financial Problems of the Provision for Old Age
Date:
[1954]
Catalogue details

Licence: Public Domain Mark

Credit: Report of the Committee on the Economic and Financial Problems of the Provision for Old Age. Source: Wellcome Collection.

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    he continues at work) and so add 15s. to the standard rate of 32s. 6d., making a total pension of 47s. 6d. A married man can increase his wife’s pension on his insurance by a maximum of 10s., providing a rate of 31s. 6d.: the com- bined maximum pension rate for a married couple would therefore be 79s. If the husband dies before his wife and she is receiving a pension on his in- surance, her whole pension, including any increments he has earned for her, is revalued at the single person’s rate, making a maximum pension of 47s. 6d. 23. The estimated total number of persons over the minimum pension ages in Great Britain at 31st December, 1953, was 6,934,000. Of these, 4,310,000, or about two-thirds, were receiving retirement pensions either on their own insurance or, in the case of wives and widows, on the husband’s insurance. Retirement pensions paid under the National Insurance Acts in the financial year 1953-54 amounted to £334 million. 24. The following Table shows the distribution of these pensioners : — TABLE I NATIONAL INSURANCE RETIREMENT PENSIONERS 3ist DECEMBER, 1953. Thousands Men 70 Men 65-69 and over Women 60-64 Women 65 Total and over Meee Nee te 7 ee, 419 1014 Ve ae Women on own insurance ... 338 609 947 Wives on husband’s insurance... 123 602 7123 Widows on husband’s insurance ... 161 1,044 1205 Totals an sot wis 1,041 3,269 4,310 * About 75,000 of these pensioners were, in addition, receiving increases in respect of a dependent wife under 60. 25. The year 1953 was the first in which it became possible for persons reaching the age of 70 (65 for women) to have earned the full number of ten increments. ‘The maximum rate of pension, however, is not yet payable because increments earned by contributions paid before July, 1951, were at a lower rate. Owing to deferred retirement approximately half the pensions being awarded to men in 1953 exceeded the standard rate of 32s. 6d. The same was true of three out of ten pensions awarded to women on their own insurance. The average number of increments earned by those who deferred retirement was six.* Non-Contributory Old Age Pensions . 26. Non-contributory old age pensions are now administered by the National Assistance Board. ‘They are subject to a test of means and at present the maximum rate of pension is 26s. for a man or single woman, and 16s. for a married woman. In the future, apart from special provision for blind persons, these pensions will be replaced by retirement pensions payable under the National Insurance Scheme, and by national assistance. Section 74 of the National Insurance Act, 1946, provides that no new non- contributory pensions will be granted after October, 1961, except to people who have on that date already reached the age of 70, and to the blind. 27. The normal qualifying age for a non-contributory old age pension is 70 for both men and women, but blind persons can qualify at the age of 40. There are certain conditions relating to nationality and residence: ee * Report of the Ministry of Pensions and National Insurance for the Year 1953. Cmd. 9159.
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