(11 years, 7 months ago)
Commons Chamber9. What steps he is taking to help pensioners.
Even where we have had to take difficult decisions on welfare spending, we have systematically protected pensioners from the impacts of changes. Indeed, we have gone further: we have permanently increased the cold weather payment to £25, and the basic state pension is now a higher share of average earnings than at any time in the past 20 years.
Unlike the Opposition, we on this side of the House recognise that it is not right to increase basic state pensions by 75p: we give proper increases. What more is the Minister doing to ensure that retirement incomes continue to rise in the future?
As my hon. Friend knows, our goal is to have a retirement income based on the foundation of a simple, single, decent state pension—the legislation on this was announced in the Queen’s Speech—complemented by automatic enrolment into a workplace pension, so people have a pension based on their national insurance and a pension of their own with a contribution from both the employer and the taxpayer. That is a good combination to build on.