Commonwealth Countries: Reciprocal Pension Agreements Debate
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Lord Rooker
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Commonwealth Countries: Reciprocal Pension Agreements
Lord Rooker Excerpts(3 years, 9 months ago)
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Baroness Stedman-Scott (Con)
The UK Government have continued to honour their legal obligations in relation to uprating pensions overseas. While I realise this will be disappointing, we have no plans to change that policy at the moment.
Lord Rooker (Lab) [V]
My Lords, I could not defend this policy when I was the Pensions Minister 20 years ago and I did not, but the Treasury would not move on it and this is a real problem. How is asking people to work around the world but freezing their pensions in 150 countries if they retire consistent with global Britain? It is absolutely unfair and incompatible with being an international nation, as we claim to be. I ask the Minister to think about her answers, because it seems she has given contradictory answers on Canada to the noble Baroness, Lady Altmann, and the noble Lord, Lord Foulkes.
Baroness Stedman-Scott (Con)
I am sorry, I do not agree that I have given contradictory answers. I say again that the Government have no plans to change their policy on this. When people retire to different countries, information about the impact on their pensions is made very clear to them.