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Pensions: Forecasts

Volume 489: debated on Wednesday 11 March 2009

To ask the Secretary of State for Work and Pensions how many requests for pension forecasts the Pension Service has received in each of the last 12 months; how many and what proportion of those forecasts were set (a) within 10 days, (b) between 10 and 20 days, (c) between 20 and 30 days, (d) between one and two months and (e) two months and longer of receipt of the request; and if he will make a statement. (259082)

The information is not available to enable the separation of the number of requests for Individual Pension Forecasts from the total number of inquiries received via the Pension Forecasting IT service. Therefore the information given relates to the total number of forecasts issued.

The number of customers who have been issued with an Individual Pension Forecast via the Pensions Forecasting IT system in the last 12 months is in the following table.

Within 10 daysBetween 10 and 19 daysBetween 20 and 30 daysBetween one and two monthsOver two monthsTotal

No.

%

No.

%

No.

%

No.

%

No.

%

No.

%

2008

February

23,484

86.08

1,396

5.12

660

2.42

306

1.12

1,437

5.27

27,283

100

March

21,109

87.10

627

2.59

768

3.17

226

0.93

1,505

6.21

24,235

100

April

21,838

87.17

514

2.05

778

3.11

278

1.11

1,643

6.56

25,051

100

May

15,931

88.03

183

1.01

681

3.76

128

0.71

1,174

6.49

18,097

100

June

15,868

88.45

143

0.80

259

1.44

474

2.64

1,197

6.67

17,941

100

July

17,656

86.83

399

1.96

561

2.76

519

2.55

1,199

5.90

20,334

100

August

20,599

88.17

690

2.95

755

3.23

525

2.25

793

3.39

23,362

100

September

44,458

94.36

1,401

2.97

706

1.50

378

0.80

173

0.37

47,116

100

October

51,550

93.61

1,507

2.74

1,256

2.28

568

1.03

186

0.34

55,067

100

November

54,177

94.65

1,551

2.71

921

1.61

486

0.85

105

0.18

57,240

100

December

41,330

96.53

666

1.56

529

1.24

261

0.61

31

0.07

42,817

100

2009

January

65,057

97.05

981

1.46

858

1.28

70

0.10

n/a

n/a

66,966

100

The number of customers who received an Individual Pension Forecast from the e-service Real Time Pension Forecasting system is in the following table. All forecasts are produced in real time.

Month

Number of forecasts issued

2008

February

5,318

March

5,883

April

6,350

May

4,395

June

2,957

July

26,353

August

25,453

September

27,759

October

31,061

November

35,490

December

23,731

2009

January

35,264

Total

230,014

PDCS also provided state pension information to pension providers to enable 1,093,986 Combined Pension forecasts to be produced in the period September 2008 to January 2009.

To ask the Secretary of State for Work and Pensions when his Department resumed sending out pension forecasts in response to requests from people who reach pension age after 6 April 2010; how many (a) requests have been received and (b) forecasts have been sent since the resumption; and if he will make a statement. (259083)

The Department offers three channels for pensions forecasts: e-service, telephone, and post.

The real-time e-service resumed on 30 June 2008. This system does not provide information on the age of the customers who have requested a forecast, and therefore the Department is unable to tell how many of the users of the service reach pension age on or after 6 April 2010.

For customers who reach state pension age on or after 6 April 2010, the Pension Forecast service resumed on 26 August 2008 for requests made by telephone or post to the Pension Forecasting IT service. 202,761 customers received a state pension forecast between 26 August 2008 and close of business on 24 February 2009.