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Pensions

Volume 170: debated on Monday 2 April 1990

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32.

To ask the Secretary of State for Social Security what plans he has to restore the link between the level of pensions and the higher of the increases in the retail prices index and earnings.

We have no plans to do so. The link between retirement pension and increases in earnings is not the key factor in improving pensioners' incomes. What matters most to pensioners is their total income; between 1979 and 1987 pensioners' average total net income increased by more than 31 per cent. in real terms.

47.

To ask the Secretary of State for Social Security if he will take steps to ensure that the requirement for occupational pensions schemes to revalue pensions in payment is applied in the same way to money purchase schemes and personal pension schemes.

To ask the Secretary of State for Social Security if he will take steps to ensure that the requirement for occupational pensions schemes to revalue pensions in payment applies in the same way to money purchase schemes and personal pension schemes.

My right hon. Friend recently announced our further proposals to protect members of occupational pension schemes. Schemes, except those providing a money purchase benefit, will have to pay annual increases to members for their pension rights which they build up after an appointed Day. Rather different considerations apply in the case of money purchase and personal pension schemes. Their members already have the opportunity to use the proceeds of their investments to choose a pension that increases after retirement. We intend to consider the question of requiring members of such schemes to take any annuity providing pension increases as part of the next review of the terms of contracting-out of the state earnings related pension scheme.

61.

To ask the Secretary of State for Social Security if he has any plans to index-link pensions with earnings.

I refer the hon. Member to my reply to him on 7 March at column 679.

22.

To ask the Secretary of State for Social Security how much he estimates has been spent in 1990 on advertising (a) personal pensions schemes and (b) the state earnings-related pension.

40.

To ask the Secretary of State for Social Security what is his estimate of the total that has been spent in 1990 on advertising (a) personal pensions schemes and (b) the state earnings-related pension.

To ask the Secretary of State for Social Security how much he estimates has been spent in 1990 on advertising (a) personal pension schemes and (b) the state earnings-related pension.

Nothing has been spent in 1990 on such advertising by the Department of Social Security.

50.

To ask the Secretary of State for Social Security what is the latest estimate of the number of people who have taken out appropriate personal pensions.

I refer my hon. Friend to the answer given to my hon. Friend the Member for Harlow (Mr. Hayes) earlier today.