Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, with reference to the Select Committee on Work and Pensions letter on the Pension Protection Fund and Financial Assistance Scheme payments of 17 December 2024, what progress she has made on implementing the recommendations on inflation protection for pre-1997 pensions.
The PPF and FAS rules on indexation have been the subject of much discussion. I am aware of the concerns surrounding the matter and understand the problems experienced by Defined Benefit pension scheme members adjusting to an income in retirement which may be less than they were expecting. I will continue to consider this issue over the coming months.
The Government is considering the Select Committee’s valuable report and will respond fully to the report and recommendations later this year.