I congratulate my hon. and gallant Friend on his outstanding maiden speech last week, for which credit is due. The Government are committed to ensuring that older people are able to live with the dignity—[Inaudible.]
To echo my hon. Friend, the Government are committed to ensuring that older people are able to live with the dignity and respect that they deserve. The state pension is a foundation of state support. In April, full amounts of the basic and new state pensions increased by 3.9% to £134.25 and £175.20 per week respectively. We continue to work with the Post Office to ensure that vulnerable customers have access to cash when shielding.
People in Broxtowe affected by the closure of Equitable Life are increasingly worried as they approach retirement age. Can my right hon. Friend tell me what measures the Government will take to ensure that soon-to-be pensioners get the compensation they deserve and are supported in their old age?
My hon. Friend raises a long-standing issue. I am aware that during the 2010 Administration, extra money was put in after the original proposal in order to support those on Equitable Life, but this is a matter for my right hon Friend the Chancellor and I would encourage my hon. Friend to follow up with him directly.