Professor John FitzGerald:

My point is that the paper, I have forgotten the two authors names, suggests substantially higher costs than we have. I may have underestimated the cost. We just put in the pension but in the UK system, there are other benefits that people receive in retirement over and above the pension where here the pension is the headline rate. I have relatives who are in receipt of UK social welfare pensions. I know it is much lower than here.