Asked by: Angus MacDonald (Liberal Democrat - Inverness, Skye and West Ross-shire)
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, what recent assessment her Department has made of the potential financial impact of uprating the pensions of British pensioners overseas whose state pensions are currently frozen.
Answered by Emma Reynolds - Parliamentary Secretary (HM Treasury)
No assessment has been made.
The UK's policy on the up-rating of the UK State Pension for recipients living overseas is a longstanding one. The UK State Pension is payable worldwide and is uprated abroad where we have a legal requirement to do so, for example in countries with which we have a reciprocal agreement that provides for up-rating.
Up-rating is based on levels of earnings growth and price inflation in the UK which has no direct relevance where the pensioner is resident overseas.
Over many years, priority is given to those living in the United Kingdom when drawing up expenditure plans for additional pensioner benefits.
Asked by: Angus MacDonald (Liberal Democrat - Inverness, Skye and West Ross-shire)
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the implications for her policies of the differences in the amounts received by recipients of the old and new State Pension.
Answered by Emma Reynolds - Parliamentary Secretary (HM Treasury)
We are absolutely committed to supporting pensioners and giving them the dignity and security they deserve in retirement.
It is not possible to make direct, like for like comparisons between State Pension amounts received under the pre 2016 State Pension system and the new State Pension. Under both systems, the amount people are entitled to varies according to their National Insurance record. This is reflected in the average amounts that people receive.
Through our commitment to protect the Triple Lock, over 12 million pensioners will benefit, with many expected to see their State Pension increase by around a thousand pounds over the next five years.
Asked by: Angus MacDonald (Liberal Democrat - Inverness, Skye and West Ross-shire)
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, what steps her Department is taking to ensure that people over the age of 65 receive adequate financial support through the State Pension.
Answered by Emma Reynolds - Parliamentary Secretary (HM Treasury)
We are absolutely committed to supporting pensioners and giving them the dignity and security they deserve in retirement.
The Government is committed to the Triple Lock, which means that in April 2025, the basic and new State pension will increase by the higher of the growth in average earnings, price increases or 2.5%.
Over 12 million pensioners will benefit through our commitment to protect the Triple Lock. Over the course of this parliament, the full yearly rate of the new State Pension is forecast to increase by around £1,700.