Oral Answers to Questions

Paul Uppal Excerpts

Monday 28th March 2011 Commons Chamber

[Steve Webb]

Well, the right hon. Gentleman must not have been paying attention last year when the Chancellor announced in his comprehensive spending review that the winter fuel payment would be exactly as budgeted for by the previous Labour Government. Perhaps he was not listening.

[Paul Uppal (Wolverhampton South West) (Con)]

13. What assessment he has made of the potential effects on pensioners of the uprating of pensions using the consumer prices index.

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

The net effect of the triple guarantee for the basic state pension—the figure we gave a moment ago—and CPI for the additional pension is estimated to be a lifetime gain of around £10,000 for the average person reaching retirement in 2011. The impact on private sector occupational pension schemes will vary from scheme to scheme.

[Paul Uppal]

Can my hon. Friend confirm that the triple guarantee will ensure that pensioners will receive a decent offering from the state in their retirement?

[Steve Webb]

My hon. Friend correctly points out that for the past 30 years the value of the state pension has been falling and falling relative to the living standards of the working population. We are proud to have put a halt to that.