Oral Answers to Questions

Debate between Martyn Day and Shailesh Vara

Monday 1st February 2016 Commons Chamber

[The Parliamentary Under-Secretary of State for Work and Pensions (Mr Shailesh Vara)]

Working-age benefits are available for those who have not yet reached state pension age. A concession of £1.1 billion was made, and 81% of those affected will see a delay of one year or less. For the rest, the delay will be no more than 18 months. There are no plans for further transitional arrangements.

[Martyn Day]

In 2005, the Pensions Commission said that

“a policy of significant notice of any increase (e.g. at least 15 years) should be possible”,

to mitigate the impact of any such changes. I would argue that the start of that 15-year process should be the beginning of the changes in 2010. In effect, the retirement age for women will be 63 from April this year, so will the Department look again at smoothing out to 2025 the increase in pensionable age for women aged 63 to 66?

[Mr Vara]

The equalisation measures of the Pensions Act 2011 were introduced, and the matter was expedited, to ensure that we covered for the fact that there had to be a sustainable pensions budget. It is also important to remember that people are living a lot longer. We have to take that into account, which is why we had to accelerate the issue.