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State Retirement Pension

Volume 472: debated on Wednesday 5 March 2008

To ask the Secretary of State for Work and Pensions what estimate he has made of the increases in the basic state pension payable in each year from 2009-10 to 2012-13 if surpluses in the National Insurance Fund were reallocated to state pensions. (190768)

[holding answer 29 February 2008]: National insurance contributions (NICs) and associated social security benefits operate within the Government’s fiscal rules designed to ensure sound public finances and when there is a surplus it is invested in public services. Any surplus of NICs over social security benefits in any one year (the NIF surplus) is not therefore an extra resource available to spend.