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.