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The Savings Bank Annuities (Tables) Order 1954

Type Statutory-Instrument
Publication 1954-11-25
State In force
Department Westlaw
Source legislation.gov.uk
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articles Not indexed
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Made: 25th November 1954

Laid before Parliament: 30th November 1954

Whereas by subsection (1) of section 53 of the Government Annuities Act, 1929 , it is enacted that the Treasury may from time to time cause tables to be constructed for calculating the amounts of savings bank annuities;

And Whereas by subsection (2) of the said section 53 it is enacted that every such table when approved by the Treasury shall, together with a statement of the rules observed in constructing it, be laid before both Houses of Parliament for not less than thirty days, and if an address is presented to Her Majesty by either House of Parliament praying that such table may be cancelled, the table shall be cancelled without prejudice to the framing of another table in lieu of the table so cancelled;

And Whereas by subsection (3) of the said section 53 it is enacted that after the expiration of the said thirty days, the Treasury may cause the table, if not so cancelled, to be published in the London Gazette, and the table shall come into operation on the day on which it is so published or such later day as may be fixed by the Treasury:

Now the Treasury, in pursuance of the said section 53, and of all other powers enabling them in that behalf, hereby make the following Order:—

1

The tables for calculating the amounts of immediate savings bank annuities shall be the tables set out in the Second Schedule to this Order, being tables constructed in accordance with the rules set out in the First Schedule to this Order.

2

The Tables[^f00001], dated the 12th day of May, 1934, approved by the Treasury for the Grant of Immediate Life Annuities are revoked on the coming into operation of this Order.

3

4

This Order shall come into force on the day on which the tables set out in the Second Schedule to this Order are published in the London Gazette.[^f00002]

FIRST SCHEDULE — STATEMENT OF THE RULES OBSERVED IN THE CONSTRUCTION OF THE TABLES FOR THE GRANT OF LIFE ANNUITIES UNDER THE PROVISIONS OF THE GOVERNMENT ANNUITIES ACT, 1929. PART II

The Tables are based on an investigation into the mortality of Government Annuitants which is described in detail in a report to the Treasury by the Government Actuary and the Actuary to the National Debt Commissioners dated 24th May, 1954, and published as a Stationery Office publication. The investigation showed not only that the mortality of Government Annuitants is now considerably lighter than that experienced in the period 1900–20 on which the tables hitherto in use were based but also that the allowance made in those tables for a prospective further decline in mortality is no longer adequate. It has therefore been necessary to make such additions to the net annuity values as in the opinion of the Actuaries are needed to secure that, as required by Section 53 of the Act, the grant of annuities shall not cause any loss to the Exchequer. The tables incorporate also an addition of £1 16s. per cent of the net annuity value to provide for the expenses incurred by the National Debt Commissioners in connexion with the grant and payment of each annuity.

SECOND SCHEDULE — TABLES OF IMMEDIATE LIFE ANNUITIES

In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— The first Quarterly payment of the Annuity will become due:— The first Quarterly payment of the Annuity will become due:—
December and the last day of February December and the last day of February December and the last day of February on the 5th April following. on the 5th April following.
March and the last day of May March and the last day of May March and the last day of May on the 5th July following. on the 5th July following.
June and the last day of August June and the last day of August June and the last day of August on the 5th October following. on the 5th October following.
September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November on the 5th January following. on the 5th January following.
When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is
£60 10s. or between £60 10s. or between £60 10s. or between £60 10s. or between
£60 10s. and £62 10s. £60 10s. and £62 10s. £60 10s. and £62 10s. £60 10s. and £62 10s.
Age in years at Age in years at
the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1. Cost of an Immediate Life Annuity of £1. the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1 Cost of an Immediate Life Annuity of £1
Life the Annuity is to depend. Males. Females. Life the Annuity is to depend. Males. Females.
£ s. d. £ s. d. £ s. d. £ s. d.
If 5 and under 6 24 9 8 25 2 3 If 45 and under 46 17 7 5 18 15 1
6 and under 7 24 7 7 25 – 5 46 and under 47 17 1 6 18 10 1
7 and under 8 24 5 5 24 18 7 47 and under 48 16 15 6 18 4 11
8 and under 9 24 3 2 24 16 8 48 and under 49 16 9 3 17 19 7
9 and under 10 24 – 10 24 14 7 49 and under 50 16 2 10 17 14 1
10 and under 11 23 18 4 24 12 5 50 and under 51 15 16 4 17 8 5
11 and under 12 23 15 10 24 10 3 51 and under 52 15 9 8 17 2 6
12 and under 13 23 13 3 24 8 – 52 and under 53 15 2 9 16 16 5
13 and under 14 23 10 8 24 5 8 53 and under 54 14 15 9 16 10 2
14 and under 15 23 8 1 24 3 4 54 and under 55 14 8 8 16 3 10
15 and under 16 23 5 6 24 – 10 55 and under 56 14 1 5 15 17 4
16 and under 17 23 2 10 23 18 3 56 and under 57 13 14 1 15 10 6
17 and under 18 23 – 1 23 15 8 57 and under 58 13 6 7 15 3 7
18 and under 19 22 17 4 23 13 – 58 and under 59 12 19 1 14 16 6
19 and under 20 22 14 5 23 10 3 59 and under 60 12 11 6 14 9 2
20 and under 21 22 11 6 23 7 5 60 and under 61 12 3 10 14 1 9
21 and under 22 22 8 7 23 4 7 61 and under 62 11 16 6 13 14 7
22 and under 23 22 5 7 23 1 8 62 and under 63 11 9 2 13 7 1
23 and under 24 22 2 6 22 2 6 63 and under 64 11 1 9 12 19 5
24 and under 25 21 19 4 22 15 8 64 and under 65 10 14 5 12 11 6
25 and under 26 21 16 1 22 12 7 65 and under 66 10 7 1 12 3 7
26 and under 27 21 12 8 22 9 5 66 and under 67 9 19 10 11 15 6
27 and under 28 21 9 3 22 6 2 67 and under 68 9 12 8 11 7 4
28 and under 29 21 5 9 22 2 11 68 and under 69 9 5 8 10 19 2
29 and under 30 21 2 1 21 19 7 69 and under 70 8 18 8 10 11 –
30 and under 31 20 18 4 21 16 3 70 and under 71 8 11 10 10 2 11
31 and under 32 20 14 6 21 12 9 71 and under 72 8 5 – 9 14 11
32 and under 33 20 10 6 21 9 3 72 and under 73 7 18 4 9 7 –
33 and under 34 20 6 6 21 5 8 73 and under 74 7 11 10 8 19 3
34 and under 35 20 2 3 21 1 11 74 and under 75 7 5 5 8 11 8
35 and under 36 19 18 – 20 18 2 75 and under 76 6 19 3 8 4 3
36 and under 37 19 13 6 20 14 4 76 and under 77 6 13 3 7 16 11
37 and under 38 19 8 11 20 10 5 77 and under 78 6 7 5 7 9 9
38 and under 39 19 4 3 20 6 4 78 and under 79 6 1 9 7 2 10
39 and under 40 18 19 5 20 2 3 79 and under 80 5 16 3 6 16 1
40 and under 41 18 14 5 19 18 1 80 or any 5 11 – 6 9 6
41 and under 42 18 9 4 19 13 9 greater age 5 11 – 6 9 6
42 and under 43 18 4 1 19 9 3
43 and under 44 17 18 8 19 4 8
44 and under 45 17 13 1 18 19 11
In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— The first Quarterly payment of the Annuity will become due:— The first Quarterly payment of the Annuity will become due:—
--- --- --- --- --- --- --- --- ---
December and the last day of February December and the last day of February December and the last day of February on the 5th April following. on the 5th April following.
March and the last day of May March and the last day of May March and the last day of May on the 5th July following. on the 5th July following.
June and the last day of August June and the last day of August June and the last day of August on the 5th October following. on the 5th October following.
September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November on the 5th January following. on the 5th January following.
When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is
£62 10s. or between £62 10s. or between £62 10s. or between £62 10s. or between
£62 10s. and £64 10s. £62 10s. and £64 10s. £62 10s. and £64 10s. £62 10s. and £64 10s.
Age in years at Age in years at
the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1. Cost of an Immediate Life Annuity of £1. the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1 Cost of an Immediate Life Annuity of £1
Life the Annuity is to depend. Males. Females. Life the Annuity is to depend. Males. Females.
£ s. d. £ s. d. £ s. d. £ s. d.
If 5 and under 6 25 1 4 25 14 7 If 45 and under 46 17 12 6 19 1 1
6 and under 7 24 19 1 25 12 7 46 and under 47 17 6 6 18 15 11
7 and under 8 24 16 9 25 10 7 47 and under 48 17 – 3 18 10 7
8 and under 9 24 14 4 25 8 6 48 and under 49 16 13 10 18 5 1
9 and under 10 24 11 10 25 6 4 49 and under 50 16 7 3 17 19 4
10 and under 11 24 9 3 25 4 1 50 and under 51 16 – 6 17 13 5
11 and under 12 24 6 7 25 1 9 51 and under 52 15 13 7 17 7 4
12 and under 13 24 3 11 24 19 4 52 and under 53 15 6 7 17 1 2
13 and under 14 24 1 2 24 16 11 53 and under 54 14 19 5 16 14 9
14 and under 15 23 18 5 24 14 5 54 and under 55 14 12 2 16 8 1
15 and under 16 23 15 8 24 11 9 55 and under 56 14 4 9 16 1 4
16 and under 17 23 12 10 24 9 – 56 and under 57 13 17 2 15 14 5
17 and under 18 23 10 – 24 6 3 57 and under 58 13 9 7 15 7 4
18 and under 19 23 7 1 24 3 5 58 and under 59 13 1 10 15 – –
19 and under 20 23 4 1 24 – 7 59 and under 60 12 14 1 14 12 6
20 and under 21 23 1 – 23 17 7 60 and under 61 12 6 3 14 4 11
21 and under 22 22 17 10 23 14 7 61 and under 62 11 18 10 13 17 7
22 and under 23 22 14 8 23 11 6 62 and under 63 11 11 4 13 9 11
23 and under 24 22 11 6 23 8 4 63 and under 64 11 3 9 13 2 –
24 and under 25 22 8 2 23 5 2 64 and under 65 10 16 3 12 14 –
25 and under 26 22 4 9 23 1 11 65 and under 66 10 8 10 12 5 11
26 and under 27 22 1 2 22 18 8 66 and under 67 10 1 5 11 17 8
27 and under 28 21 17 7 22 15 3 67 and under 68 9 14 2 11 9 4
28 and under 29 21 13 10 22 11 10 68 and under 69 9 7 1 11 1 –
29 and under 30 21 10 1 22 8 4 69 and under 70 9 – – 10 12 8
30 and under 31 21 6 2 22 4 10 70 and under 71 8 13 – 10 4 6
31 and under 32 21 2 2 22 1 2 71 and under 72 8 6 – 9 16 5
32 and under 33 20 18 – 21 17 6 72 and under 73 7 19 3 9 8 4
33 and under 34 20 13 9 21 13 9 73 and under 74 7 12 8 9 – 6
34 and under 35 20 9 4 21 9 10 74 and under 75 7 6 3 8 12 10
35 and under 36 20 4 10 21 5 11 75 and under 76 7 – – 8 5 3
36 and under 37 20 – 3 21 1 11 76 and under 77 6 13 11 7 17 10
37 and under 38 19 15 6 20 17 9 77 and under 78 6 8 – 7 10 7
38 and under 39 19 10 8 20 13 7 78 and under 79 6 2 4 7 3 7
39 and under 40 19 5 7 20 9 4 79 and under 80 5 16 10 6 16 9
40 and under 41 19 – 5 20 4 11 80 or any
41 and under 42 18 15 2 20 – 5 greater age 5 11 6 6 10 2
42 and under 43 18 9 9 19 15 9
43 and under 44 18 4 2 19 11 –
44 and under 45 17 18 5 19 6 2
In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— The first Quarterly payment of the Annuity will become due:— The first Quarterly payment of the Annuity will become due:—
--- --- --- --- --- --- --- --- ---
December and the last day of February December and the last day of February December and the last day of February on the 5th April following. on the 5th April following.
March and the last day of May March and the last day of May March and the last day of May on the 5th July following. on the 5th July following.
June and the last day of August June and the last day of August June and the last day of August on the 5th October following. on the 5th October following.
September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November on the 5th January following. on the 5th January following.
When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is
£64 10s. or between £64 10s. or between £64 10s. or between £64 10s. or between
£64 10s. and £66 10s. £64 10s. and £66 10s. £64 10s. and £66 10s. £64 10s. and £66 10s.
Age in years at Age in years at
the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1. Cost of an Immediate Life Annuity of £1. the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1 Cost of an Immediate Life Annuity of £1
Life the Annuity is to depend. Males. Females. Life the Annuity is to depend. Males. Females.
£ s. d. £ s. d. £ s. d. £ s. d.
If 5 and under 6 25 13 5 26 7 4 If 45 and under 46 17 17 8 19 7 2
6 and under 7 25 11 – 26 5 4 46 and under 47 17 11 5 19 1 10
7 and under 8 25 8 6 26 3 2 47 and under 48 17 5 – 18 16 4
8 and under 9 25 6 – 26 – 11 48 and under 49 16 18 5 18 10 7
9 and under 10 25 3 5 25 18 7 49 and under 50 16 11 8 18 4 8
10 and under 11 25 – 8 25 16 3 50 and under 51 16 4 9 17 18 7
11 and under 12 24 17 10 25 13 9 51 and under 52 15 17 8 17 12 4
12 and under 13 24 15 – 25 11 2 52 and under 53 15 10 6 17 5 11
13 and under 14 24 12 1 25 8 7 53 and under 54 15 3 1 16 19 4
14 and under 15 24 9 2 25 5 11 54 and under 55 14 15 7 16 12 6
15 and under 16 24 6 3 25 3 1 55 and under 56 14 8 – 16 5 6
16 and under 17 24 3 4 25 – 3 56 and under 57 14 – 4 15 18 5
17 and under 18 24 – 4 24 17 4 57 and under 58 13 12 7 15 11 2
18 and under 19 23 17 2 24 14 4 58 and under 59 13 4 8 15 3 8
19 and under 20 23 14 – 24 11 4 59 and under 60 12 16 9 14 15 11
20 and under 21 23 10 10 24 8 2 60 and under 61 12 8 9 14 8 2
21 and under 22 23 7 7 24 5 – 61 and under 62 12 1 2 14 – 8
22 and under 23 23 4 2 24 1 9 62 and under 63 11 13 6 13 12 10
23 and under 24 23 – 9 23 18 5 63 and under 64 11 5 9 13 4 9
24 and under 25 22 17 3 23 15 1 64 and under 65 10 18 2 12 16 7
25 and under 26 22 13 8 23 11 8 65 and under 66 10 10 7 12 8 4
26 and under 27 22 10 – 23 8 3 66 and under 67 10 3 1 11 19 11
27 and under 28 22 6 3 23 4 8 67 and under 68 9 15 8 11 11 6
28 and under 29 22 2 4 23 1 1 68 and under 69 9 8 5 11 3 –
29 and under 30 21 18 4 22 17 5 69 and under 70 9 1 3 10 14 6
30 and under 31 21 14 2 22 13 9 70 and under 71 8 14 2 10 6 2
31 and under 32 21 10 – 22 9 11 71 and under 72 8 7 2 9 17 11
32 and under 33 21 5 8 22 6 – 72 and under 73 8 – 4 9 9 9
33 and under 34 21 1 2 22 2 1 73 and under 74 7 13 8 9 1 10
34 and under 35 20 16 8 21 18 – 74 and under 75 7 7 1 8 14 1
35 and under 36 20 12 – 21 13 11 75 and under 76 7 – 10 8 6 4
36 and under 37 20 7 3 21 9 8 76 and under 77 6 14 8 7 18 10
37 and under 38 20 2 4 21 5 5 77 and under 78 6 8 9 7 11 6
38 and under 39 19 17 2 21 1 – 78 and under 79 6 2 11 7 4 5
39 and under 40 19 12 – 20 16 7 79 and under 80 5 17 4 6 17 6
40 and under 41 19 6 8 20 12 – 80 or any
41 and under 42 19 1 2 20 7 4 greater age 5 12 – 6 10 10
42 and under 43 18 15 6 20 2 6
43 and under 44 18 9 9 19 17 6
44 and under 45 18 3 10 19 12 6
In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— The first Quarterly payment of the Annuity will become due:— The first Quarterly payment of the Annuity will become due:—
--- --- --- --- --- --- --- --- ---
December and the last day of February December and the last day of February December and the last day of February on the 5th April following. on the 5th April following.
March and the last day of May March and the last day of May March and the last day of May on the 5th July following. on the 5th July following.
June and the last day of August June and the last day of August June and the last day of August on the 5th October following. on the 5th October following.
September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November on the 5th January following. on the 5th January following.
When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is
£66 10s. or between £66 10s. or between £66 10s. or between £66 10s. or between
£66 10s. and £69. £66 10s. and £69. £66 10s. and £69. £66 10s. and £69.
Age in years at Age in years at
the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1. Cost of an Immediate Life Annuity of £1. the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1 Cost of an Immediate Life Annuity of £1
Life the Annuity is to depend. Males. Females. Life the Annuity is to depend. Males. Females.
£ s. d. £ s. d. £ s. d. £ s. d.
If 5 and under 6 26 6 – 27 7ndash; 8 If 45 and under 46 18 3 1 19 13 6
6 and under 7 26 3 5 26 18 6 46 and under 47 17 16 8 19 8 –
7 and under 8 26 – 10 26 16 3 47 and under 48 17 10 1 19 2 3
8 and under 9 25 18 3 26 13 11 48 and under 49 17 3 3 18 16 4
9 and under 10 25 15 5 26 11 5 49 and under 50 16 16 3 18 10 2
10 and under 11 25 12 6 26 8 11 50 and under 51 16 9 1 18 3 11
11 and under 12 25 9 6 26 6 3 51 and under 52 16 1 10 17 17 5
12 and under 13 25 6 6 26 3 7 52 and under 53 15 14 6 17 10 10
13 and under 14 25 3 5 26 – 9 53 and under 54 15 6 11 17 4 –
14 and under 15 25 – 4 25 17 11 54 and under 55 14 19 2 16 17 –
15 and under 16 24 17 3 25 14 11 55 and under 56 14 11 5 16 9 9
16 and under 17 24 14 2 25 11 11 56 and under 57 14 3 7 16 2 6
17 and under 18 24 11 – 25 8 10 57 and under 58 13 15 7 15 15 –
18 and under 19 24 7 9 25 5 8 58 and under 59 13 7 6 15 7 5
19 and under 20 24 4 5 25 2 6 59 and under 60 12 19 5 14 19 6
20 and under 21 24 1 1 24 19 2 60 and under 61 12 11 4 14 11 6
21 and under 22 23 17 7 24 15 10 61 and under 62 12 3 7 14 3 9
22 and under 23 23 14 – 24 12 5 62 and under 63 11 15 9 13 15 9
23 and under 24 23 10 5 24 8 11 63 and under 64 11 7 11 13 7 7
24 and under 25 23 6 8 24 5 5 64 and under 65 11 – 2 12 19 3
25 and under 26 23 2 11 24 1 10 65 and under 66 10 12 6 12 10 9
26 and under 27 22 19 1 23 18 2 66 and under 67 10 4 10 12 2 2
27 and under 28 22 15 2 23 14 5 67 and under 68 9 17 3 11 13 7
28 and under 29 22 11 1 23 10 8 68 and under 69 9 9 10 11 4 11
29 and under 30 22 6 10 23 6 10 69 and under 70 9 2 7 10 16 3
30 and under 31 22 2 6 23 2 11 70 and under 71 8 15 5 10 7 10
31 and under 32 21 18 2 22 18 11 71 and under 72 8 8 4 9 19 5
32 and under 33 21 13 8 22 14 10 72 and under 73 8 1 5 9 11 2
33 and under 34 21 9 – 22 10 9 73 and under 74 7 14 7 9 3 2
34 and under 35 21 4 3 22 6 6 74 and under 75 7 8 – 8 15 2
35 and under 36 20 19 4 22 2 2 75 and under 76 7 1 8 8 7 5
36 and under 37 20 14 4 21 17 9 76 and under 77 6 15 4 7 19 10
37 and under 38 20 9 3 21 13 4 77 and under 78 6 9 4 7 12 5
38 and under 39 20 4 – 21 8 9 78 and under 79 6 3 6 7 5 3
39 and under 40 19 18 6 21 4 1 79 and under 80 5 17 11 6 18 2
40 and under 41 19 13 – 20 19 3 80 or any
41 and under 42 19 7 4 20 14 5 greater age 5 12 6 6 11 6
42 and under 43 19 1 6 20 9 5
43 and under 44 18 15 6 20 4 3
44 and under 45 18 9 4 19 18 11
In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— The first Quarterly payment of the Annuity will become due:— The first Quarterly payment of the Annuity will become due:—
--- --- --- --- --- --- --- --- ---
December and the last day of February December and the last day of February December and the last day of February on the 5th April following. on the 5th April following.
March and the last day of May March and the last day of May March and the last day of May on the 5th July following. on the 5th July following.
June and the last day of August June and the last day of August June and the last day of August on the 5th October following. on the 5th October following.
September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November on the 5th January following. on the 5th January following.
When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is
£69, or between £69, or between £69, or between £69, or between
£69 and £71 10s. £69 and £71 10s. £69 and £71 10s. £69 and £71 10s.
Age in years at Age in years at
the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1. Cost of an Immediate Life Annuity of £1. the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1 Cost of an Immediate Life Annuity of £1
Life the Annuity is to depend. Males. Females. Life the Annuity is to depend. Males. Females.
£ s. d. £ s. d. £ s. d. £ s. d.
If 5 and under 6 26 19 2 27 14 8 If 45 and under 46 18 8 7 20 – –
6 and under 7 26 16 6 27 12 4 46 and under 47 18 1 11 19 14 3
7 and under 8 26 13 9 27 9 11 47 and under 48 17 15 1 19 8 3
8 and under 9 26 10 11 27 7 5 48 and under 49 17 8 1 19 2 2
9 and under 10 26 7 11 27 4 10 49 and under 50 17 – 10 18 15 10
10 and under 11 26 4 10 27 2 1 50 and under 51 16 13 6 18 9 4
11 and under 12 26 1 8 26 19 3 51 and under 52 16 6 1 18 2 8
12 and under 13 25 18 6 26 16 5 52 and under 53 15 18 6 17 15 10
13 and under 14 25 15 3 26 13 5 53 and under 54 15 10 9 17 8 10
14 and under 15 25 12 – 26 10 5 54 and under 55 15 2 10 17 1 7
15 and under 16 25 8 9 26 7 3 55 and under 56 14 14 11 16 14 2
16 and under 17 25 5 5 26 4 1 56 and under 57 14 6 10 16 6 8
17 and under 18 25 2 – 26 – 10 57 and under 58 13 18 9 15 19 –
18 and under 19 24 18 7 25 17 6 58 and under 59 13 10 6 15 11 2
19 and under 20 24 15 1 25 14 1 59 and under 60 13 2 3 15 3 1
20 and under 21 24 11 6 25 10 7 60 and under 61 12 13 11 14 14 11
21 and under 22 24 7 10 25 7 1 61 and under 62 12 6 – 14 7 –
22 and under 23 24 4 2 25 3 5 62 and under 63 11 18 – 13 18 9
23 and under 24 24 – 5 24 19 9 63 and under 64 11 10 – 13 10 5
24 and under 25 23 16 6 24 16 1 64 and under 65 11 2 1 13 1 10
25 and under 26 23 12 6 24 12 4 65 and under 66 10 14 4 12 13 2
26 and under 27 23 8 6 24 8 5 66 and under 67 10 6 7 12 4 6
27 and under 28 23 4 4 24 4 6 67 and under 68 9 18 11 11 15 9
28 and under 29 23 – – 24 – 7 68 and under 69 9 11 4 11 6 11
29 and under 30 22 15 8 23 16 6 69 and under 70 9 3 11 10 18 2
30 and under 31 22 11 2 23 12 4 70 and under 71 8 16 7 10 9 7
31 and under 32 22 6 7 23 8 2 71 and under 72 8 9 5 10 1 –
32 and under 33 22 1 10 23 4 – 72 and under 73 8 2 5 9 12 8
33 and under 34 21 17 – 22 19 8 73 and under 74 7 15 7 9 4 6
34 and under 35 21 12 – 22 15 3 74 and under 75 7 8 11 8 16 5
35 and under 36 21 6 11 22 10 9 75 and under 76 7 2 5 8 8 7
36 and under 37 21 1 9 22 6 1 76 and under 77 6 16 2 8 – 10
37 and under 38 20 16 5 22 1 5 77 and under 78 6 10 1 7 13 4
38 and under 39 20 10 11 21 16 8 78 and under 79 6 4 2 7 6 1
39 and under 40 20 5 4 21 11 9 79 and under 80 5 18 6 6 19 –
40 and under 41 19 19 7 21 6 9 80 or any 5 13 – 6 12 2
41 and under 42 19 13 8 21 1 8 greater age 5 13 – 6 12 2
42 and under 43 19 7 7 20 16 5
43 and under 44 19 1 5 20 11 1
44 and under 45 18 15 1 20 5 7
In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— The first Quarterly payment of the Annuity will become due:— The first Quarterly payment of the Annuity will become due:—
--- --- --- --- --- --- --- --- ---
December and the last day of February December and the last day of February December and the last day of February on the 5th April following. on the 5th April following.
March and the last day of May March and the last day of May March and the last day of May on the 5th July following. on the 5th July following.
June and the last day of August June and the last day of August June and the last day of August on the 5th October following. on the 5th October following.
September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November on the 5th January following. on the 5th January following.
When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is
£71 10s. or between £71 10s. or between £71 10s. or between £71 10s. or between
£71 10s. and £74. £71 10s. and £74. £71 10s. and £74. £71 10s. and £74.
Age in years at Age in years at
the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1. Cost of an Immediate Life Annuity of £1. the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1 Cost of an Immediate Life Annuity of £1
Life the Annuity is to depend. Males. Females. Life the Annuity is to depend. Males. Females.
£ s. d. £ s. d. £ s. d. £ s. d.
If 5 and under 6 27 13 – 28 9 4 If 45 and under 46 18 14 3 20 6 8
6 and under 7 27 10 2 28 6 9 46 and under 47 18 7 4 20 – 8
7 and under 8 27 7 2 28 4 2 47 and under 48 18 – 3 19 14 5
8 and under 9 27 4 2 28 1 6 48 and under 49 17 13 – 19 8 1
9 and under 10 27 1 – 27 18 9 49 and under 50 17 5 7 19 1 7
10 and under 11 26 17 8 27 15 10 50 and under 51 16 18 1 18 14 11
11 and under 12 26 14 4 27 12 10 51 and under 52 16 10 5 18 8 –
12 and under 13 26 10 11 27 9 9 52 and under 53 16 2 7 18 – 11
13 and under 14 26 7 6 27 6 7 53 and under 54 15 14 7 17 13 8
14 and under 15 26 4 1 27 3 5 54 and under 55 15 6 7 17 6 3
15 and under 16 26 – 8 27 – 1 55 and under 56 14 18 5 16 18 8
16 and under 17 25 17 2 26 16 8 56 and under 57 14 10 3 16 10 11
17 and under 18 25 13 7 26 13 3 57 and under 58 14 1 11 16 3 –
18 and under 19 25 9 11 26 9 9 58 and under 59 13 13 6 15 14 11
19 and under 20 25 6 3 26 6 2 59 and under 60 13 5 – 15 6 8
20 and under 21 25 2 6 26 2 6 60 and under 61 12 16 6 14 18 4
21 and under 22 24 18 8 25 18 9 61 and under 62 12 8 6 14 10 3
22 and under 23 24 14 9 25 14 11 62 and under 63 12 – 4 14 1 10
23 and under 24 24 10 9 25 11 1 63 and under 64 11 12 2 13 13 3
24 and under 25 24 6 8 25 7 2 64 and under 65 11 4 2 13 4 6
25 and under 26 24 2 6 25 3 2 65 and under 66 10 16 2 12 15 9
26 and under 27 23 18 2 24 19 1 66 and under 67 10 8 3 12 6 10
27 and under 28 23 13 10 24 15 – 67 and under 68 10 – 6 11 17 10
28 and under 29 23 9 4 24 10 9 68 and under 69 9 12 10 11 8 11
29 and under 30 23 4 9 24 6 6 69 and under 70 9 5 3 11 – –
30 and under 31 23 – – 24 2 2 70 and under 71 8 17 10 10 11 3
31 and under 32 22 15 2 23 17 10 71 and under 72 8 10 7 10 2 7
32 and under 33 22 10 3 23 13 5 72 and under 73 8 3 6 9 14 1
33 and under 34 22 5 3 23 8 10 73 and under 74 7 16 7 9 5 9
34 and under 35 22 – 1 23 4 3 74 and under 75 7 9 10 8 17 7
35 and under 36 21 14 9 22 19 6 75 and under 76 7 3 3 8 9 7
36 and under 37 21 9 4 22 14 8 76 and under 77 6 16 10 8 1 9
37 and under 38 21 3 9 22 9 10 77 and under 78 6 10 8 7 14 2
38 and under 39 20 18 1 22 4 10 78 and under 79 6 4 9 7 6 10
39 and under 40 20 12 3 21 19 9 79 and under 80 5 19 – 6 19 8
40 and under 41 20 6 3 21 14 6 80 or any
41 and under 42 20 – 1 21 9 2 greater age 5 13 6 6 12 10
42 and under 43 19 13 10 21 3 9
43 and under 44 19 7 5 20 18 2
44 and under 45 19 – 11 20 12 6
In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— In respect of any Annuity purchase completed by the payment of the purchase money between the closing of the Consol Transfer Books of the Bank of England in the month of:— The first Quarterly payment of the Annuity will become due:— The first Quarterly payment of the Annuity will become due:—
--- --- --- --- --- --- --- --- ---
December and the last day of February December and the last day of February December and the last day of February on the 5th April following. on the 5th April following.
March and the last day of May March and the last day of May March and the last day of May on the 5th July following. on the 5th July following.
June and the last day of August June and the last day of August June and the last day of August on the 5th October following. on the 5th October following.
September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November September and the last day of November on the 5th January following. on the 5th January following.
When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is When the average price of £100 of 2 ½ per cent. Consolidated Stock is
£74, or between £74, or between £74, or between £74, or between
£74 and £77. £74 and £77. £74 and £77. £74 and £77.
Age in years at Age in years at
the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1. Cost of an Immediate Life Annuity of £1. the time of Purchase of the Person upon whose Cost of an Immediate Life Annuity of £1 Cost of an Immediate Life Annuity of £1
Life the Annuity is to depend. Males. Females. Life the Annuity is to depend. Males. Females.
£ s. d. £ s. d. £ s. d. £ s. d.
If 5 and under 6 28 7 5 29 4 8 If 45 and under 46 19 – – 20 13 5
6 and under 7 28 4 4 29 1 11 46 and under 47 18 12 10 20 7 3
7 and under 8 28 1 2 28 19 2 47 and under 48 18 5 6 20 – 10
8 and under 9 27 17 11 28 16 3 48 and under 49 17 18 1 19 14 3
9 and under 10 27 14 7 28 13 3 49 and under 50 17 10 6 19 7 6
10 and under 11 27 11 2 28 10 2 50 and under 51 17 2 9 19 – 7
11 and under 12 27 7 7 28 7 – 51 and under 52 16 14 10 18 13 6
12 and under 13 27 4 – 28 3 8 52 and under 53 16 6 9 18 6 3
13 and under 14 27 – 4 28 – 4 53 and under 54 15 18 8 17 18 9
14 and under 15 26 16 9 27 17 – 54 and under 55 15 10 5 17 11 1
15 and under 16 26 13 1 27 13 5 55 and under 56 15 2 – 17 3 4
16 and under 17 26 9 4 27 9 10 56 and under 57 14 13 7 16 15 4
17 and under 18 26 5 7 27 6 2 57 and under 58 14 5 1 16 7 2
18 and under 19 26 1 9 27 2 6 58 and under 59 13 16 6 15 18 10
19 and under 20 25 17 10 26 18 8 59 and under 60 13 7 10 15 10 5
20 and under 21 25 13 10 26 14 10 60 and under 61 12 19 2 15 1 10
21 and under 22 25 9 9 26 10 10 61 and under 62 12 11 – 14 13 7
22 and under 23 25 5 8 26 6 10 62 and under 63 12 2 8 14 4 11
23 and under 24 25 1 5 26 2 10 63 and under 64 11 14 4 13 16 2
24 and under 25 24 17 1 25 18 8 64 and under 65 11 6 2 13 7 3
25 and under 26 24 12 9 25 14 5 65 and under 66 10 18 1 12 18 4
26 and under 27 24 8 3 25 10 2 66 and under 67 10 10 – 12 9 3
27 and under 28 24 3 8 25 5 10 67 and under 68 10 2 1 12 – 1
28 and under 29 23 18 11 25 1 5 68 and under 69 9 14 4 11 10 11
29 and under 30 23 14 1 24 16 11 69 and under 70 9 6 8 11 1 11
30 and under 31 23 9 2 24 12 5 70 and under 71 8 19 2 10 13 –
31 and under 32 23 4 2 24 7 10 71 and under 72 8 11 9 10 4 2
32 and under 33 22 19 – 24 3 2 72 and under 73 8 4 7 9 15 7
33 and under 34 22 13 9 23 18 4 73 and under 74 7 17 6 9 7 2
34 and under 35 22 8 4 23 13 6 74 and under 75 7 10 8 8 18 10
35 and under 36 22 2 10 23 8 7 75 and under 76 7 4 1 8 10 9
36 and under 37 21 17 2 23 3 6 76 and under 77 6 17 7 8 2 10
37 and under 38 21 11 4 22 18 5 77 and under 78 6 11 4 7 15 2
38 and under 39 21 5 5 22 13 2 78 and under 79 6 5 4 7 7 9
39 and under 40 20 19 4 22 7 11 79 and under 80 5 19 7 7 – 6
40 and under 41 20 13 1 22 2 6 80 or any
41 and under 42 20 6 9 21 16 11 greater age 5 14 – 6 13 6
42 and under 43 20 – 3 21 11 3
43 and under 44 19 13 8 21 5 6
44 and under 45 19 6 11 20 19 6

Signed

Edward Heath — R. H. M. Thompson — Two of the Lords Commissioners of Her Majesty's Treasury — Dated this twenty-fifth day of November, nineteen hundred and fifty-four

Explanatory note

EXPLANATORY NOTE

Under the Government Annuities Act, 1929 , Part II, the National Debt Commissioners may grant Immediate Life Annuities which are sold through the Post Office Savings Bank and Trustee Savings Banks and are known as Savings Bank annuities. The Act empowers the Treasury to approve tables for calculating the amounts of these annuities, framed in such a manner that the Exchequer suffers no loss.

This Order approves new tables designed to achieve this object, replacing those approved on 12th May, 1934.

The First Schedule to the Order contains the rules in accordance with which the tables have been constructed; the Second Schedule contains the tables. Under the Act the tables are required to lie before Parliament for thirty days before they can be brought into operation; if no address is presented to Her Majesty praying that the tables be cancelled, they will, at the conclusion of the thirty days, be published in the London Gazette, and come into operation on the day of publication.

Footnotes

[^f00001]: S.R. & O. 1934/471 (Rev. IX, p. 740: 1934 I, p. 762).

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