State Pension

Debate between Baroness Altmann and Lord Rooker

Thursday 28th April 2016 Lords Chamber

[Baroness Altmann]

My noble friend is absolutely right. The aim of the new state pension is that people will have a much clearer idea of how much they can get from the state pension without extensive means testing so that it is clear and safe for them to save as they can on top of it.

[Lord Rooker (Lab)]

What estimate have the Government made of the result of less means testing, which means less passporting to other benefits for those who were means tested, who presumably will not now receive those benefits? What is the overall saving to the Government in that respect?

[Baroness Altmann]

The estimates are that the new state pension will be cost-neutral for the first few decades. Therefore, the aim is that we can give people security and an understanding of what they will get from the state system, and that, as we roll out auto-enrolment to ensure that every worker will have a private pension, it is safe for those workers all around the country to save for their future so that they can supplement their own income.

State Pension Age

Debate between Baroness Altmann and Lord Rooker

Wednesday 2nd March 2016 Lords Chamber

[Baroness Altmann]

The noble Baroness raises relevant points. I stress again that the review is not just about raising the state pension age but about considering the appropriate way to run state pension age policy. I encourage her to raise those issues with the reviewer.

[Lord Rooker (Lab)]

Did the Minister approve the wording of the press release that has been referred to, with the word “immediacy” in it?

[Baroness Altmann]

My Lords, the press release has been compiled by the department and the wording of the release has, of course, been approved.