UK Parliament / Open data

Pensions Bill

Proceeding contribution from Liam Byrne (Labour) in the House of Commons on Monday, 17 June 2013. It occurred during Debate on bills on Pensions Bill.

I will give way in a moment. I will just flag another issue that the pensions Minister might say a word about when he intervenes.

There is an uplift to 35 years-worth of contributions being required before 100% entitlement to the flat-rate pension is enjoyed. That was not the original plan that was presented to the House in the Green Paper. When the Minister gave evidence to the Work and Pensions Committee, he said that the change would save roughly £1 billion. Five years’ more contributions will now be needed before the full pension is enjoyed, so up to 100,000 fewer people will receive the full pension than if the current system had continued. For every year under 35 years, people will enjoy £4.11 less a week. Of course, someone with below about seven or 10 years of contributions will get nothing at all.

We recognise that the minimum income guarantee will remain in place, but we are concerned that the many people who fall short of 35 years and the women to whom I referred will be rather too close to the poverty line for the liking of everyone here.

Type
Proceeding contribution
Reference
564 c658 
Session
2013-14
Chamber / Committee
House of Commons chamber
Legislation
Pensions Bill 2013-14
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