Oral Answers to Questions

Debate between Gavin Shuker and Steve Webb

Monday 31st March 2014 Commons Chamber

[The Minister of State, Department for Work and Pensions (Steve Webb)]

I am grateful to my hon. Friend for flagging the fact that we have increased the basic state pension by whichever of earnings, prices or 2.5% gives the best outcome for pensioners. Compared with the earnings link, which we think the Opposition would have restored from 2012, that is an extra £440 a year in state pension for pensioners in our constituencies.

[Gavin Shuker (Luton South) (Lab/Co-op)]

T3. A constituent of mine who is on jobseeker’s allowance wrote to me to ask for financial support to get feedback on her interview technique to find where she was falling down at interview. Instead, I gave her a mock interview and, I hope, some helpful feedback. She says of the jobcentre, “I have asked umpteen times for interview practice, but all I get is directed to tips on the web.” Why can that not be provided by the jobcentre?

Pensions Strategy

Debate between Gavin Shuker and Steve Webb

Thursday 20th March 2014 Commons Chamber

[Steve Webb]

My hon. Friend has great knowledge of these matters from his time at both the Treasury and the Department for Work and Pensions. He is absolutely right to say that we need to make sure that people have guidance that enables them to make informed choices. They will still be able to proceed to formally regulated independent financial advice, but the industry will have to up its game, because now people will have much more choice to take cash, and if they want to take an annuity they will have to be persuaded that it is good value for money. That will be a market impetus to provide better quality products. We have asked the FCA to make sure that a good guidance regime is in place, potentially involving groups such as the excellent Pensions Advisory Service, to which my hon. Friend referred.

[Gavin Shuker (Luton South) (Lab/Co-op)]

As a result of these changes, will taxpayers pay more or less to the Exchequer?

[Steve Webb]

The beauty of theses proposals is that individuals will choose: if they want to spread their income over their retirement they will pay less tax, and if they bring forward their cash they will pay more tax. We think people will take advantage of those freedoms, which will bring forward taxation revenue in the shorter term, and there will be a reduction later on. People will be able to make free choices, something I hope the hon. Gentleman is in favour of.

Oral Answers to Questions

Debate between Gavin Shuker and Steve Webb

Monday 18th July 2011 Commons Chamber

[Gavin Shuker (Luton South) (Lab/Co-op)]

T7. When will the Minister announce the so-called transitional arrangements for the women most affected by his accelerated timetable for introducing changes to the state pension age?

[Steve Webb]

Any changes that require primary legislation will be considered when the House considers the Pensions Bill on Report later in the year.