Christmas Bonus (Specified Sum) Order 2008

I thank the noble Lord for that figure. Of course, those estimates really mean that between one-third and two-fifths of pensioners do not receive the pension credit to which they are entitled. Perhaps I may ask him for a specific figure. The point that he made related to the disregard and the assumption of a 10 per cent interest rate, but what was the rate of interest that pensioners could achieve when that rate was fixed? If it was fair then, it can hardly be fair now when they can receive only 2 per cent or 3 per cent.