(12 years, 8 months ago)
Commons ChamberCan the Minister tell my constituents who work hard and have no chance of achieving a £20,000 index-linked guaranteed pension what level of contributions they would have to pay to their own scheme to get that level of pension?
As has been said, to achieve the same pension as many public sector workers will continue to enjoy after these reforms are put in place, many people working in the private sector would end up having to pay no less than a third of their salary in pension contributions. These are good pension schemes. They will continue to be good pension schemes. We want them to be so.