^{page 142 note *} Hypothetical Life Table 1942–44, taken from the Papers of the Statistics Committee of the Royal Commissioonn Population, H.M.S.O., 1950, p. 219.Google Scholar

^{page 146 note *} Taking into account education and other subsidized services it is arguable that, from a national point of view rather than that of the family, a child should be reckoned to consume as many goods and services as an adult.

^{page 161 note *} Bulletin of the Oxford University Institute of Statistics, vol. 14, nos. 11 and 12 to vol. 15, nos. 10 and 11.

^{page 161 note †} Ibid. vol 15, p. 68.

^{page 161 note ‡} Ibid. vol. 15, p. 373.

^{page 167 note *} Cmd. 8963.

^{page 167 note †} See also para. 13.

^{pahe 168 note *} For the benefit of non-actuarial readers it is necessary to remark that the word ‘assessmentism’ seems to be peculiar to actuaries and is used by them in a special sense to describe a method of finance by which, instead of accumulating funds in advance of the payment of benefits, the benefits are met as they fall due out of current income from contributions or other resources appropriated for the purpose.

^{page 175 note *} R. A. Butler, Budget Speech, Hansard (Commons), 14 April 1953.

^{page 178 note *} ‘Recent developments in Social Insurance’, J.S.S. 11, 209.Google Scholar

^{page 178 note †} Alternatively, it had been earlier estimated that the initial liability for existing insured persons for retirement pensions was, £8500m., and increasing this by 25% for the increase in pension benefits and relevant contributions since 1948 yields £10,600m., agreeing with the round sum above ( Hocking, W. S., ‘The development of Social Insurance in Great Britain’, Trans. 13th Int. Congr. Actu. 1, 417 Google Scholar).

^{page 179 note *} Cmd. 8900.

^{page 179 note †} Cmd. 6730.

^{page 180 note *} We have adopted this as a general rule, viz. that where the gratuity is part of the retirementb enefiti t should be broughti nto account in the year in which paid. Using such gross figures as a measure of pension outgo now and in the future assumes that there will always be the same proportion between pensions in force and lump sums awarded in the year; which, though not strictly true, seems justifiable for global calculationsT. o be consistent,d eathg ratuitiesh ave been excluded

^{page 182 note *} 11,000 nurses employed under the National Health Service who have opted to remain under the F.S.S.N. scheme have been taken into account in the section dealing with pension schemes provided by Life Offices, and have been left out of account in these total numbers.

^{page 187 note *} On the assumption that the accumulated funds were reported as at the end of the year and that the interest income was that received during the year, the interest yield calculated on the 2I/(A + B –I) formula would be about 3·8%.

^{page 203 note *} There have been omitted from this abstract certain remarks made by Mr Bacon which were similar to those made by Mr Benjamin when introducing the report at the first Institute meeting (p. 226). Eds.

^{page 204 note *} See Mr Benjamin's remarks at the first Institute meeting (p. 227). Eds.