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Pensions

Volume 505: debated on Wednesday 3 February 2010

To ask the Secretary of State for Work and Pensions if she will estimate the cost to the Exchequer in (a) public sector pensions, (b) uprating the guaranteed minimum pension of private sector pensions and (c) other occupational pension costs of a 2.5 per cent. increase in 2010-11 in (i) additional pension, (ii) increments to basic pension, (iii) increments to additional pension, (iv) increments to graduated retirement benefit, (v) increments to the inheritable lump sum, (vi) contracted-out deduction from additional pension in respect of pre-April 1988 contracted-out earnings, (vii) contracted-out deduction from additional pension in respect of contracted-out earnings from April 1988 to 1997, (viii) graduated retirement benefit, (ix) increase of long term incapacity for age, (x) basic pension addition at age of 80 years, (xi) increase of long-term incapacity for age and (xii) invalidity allowance (transitional) for state pension recipients. (308334)

The total cost to the Exchequer in (a) public sector pensions, of uprating Additional Pension components by 2.5 per cent. is approximately £0.7 billion in 2010-11. More detailed information is not available.

Parts (b) and (c) of this question do not result in any costs to the Exchequer.