Transitional State Pension Arrangements for Women
Debate between Richard Graham and George Howarth(8 years, 4 months ago)
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Richard Graham
Thank you. I have got the message loud and clear, and I hope that Members will respond accordingly—[Hon. Members: “It’s you!”] I was trying to help colleagues on both sides of the Chamber who are standing up and trying to intervene.
The last point raised by the petition is on the new state pension, the way in which it has been communicated and the implied fairness, or unfairness, of it. It is time that we all recognised that the new state pension has huge benefits for many people, and particularly for women. For the first time in the history of pensions in this country, women who have spent years out of the workplace, either bringing up children or caring for their parents, will receive those years as contributions to national insurance, which will determine what their state pension is. [Interruption.] That is a revolutionary change, whether Members care to recognise it or not, and it is one that we should all support.
Secondly, the changes made to the composition of the state pension, particularly the triple lock, mean that the absolute amount of money received by people on the new state pension this April will already be £1,000 a year more than in 2010. Thirdly, it has been calculated that, in the first 10 years of the new state pension, some 650,000 women will receive £416 a year more than they would have received without the new state pension.
Mr George Howarth
On a point of order, Mr Stringer. As the hon. Gentleman moves into the 22nd minute of his speech, will he give us an indication of its likely future proportions, so that we can pace ourselves?