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Pensions

Volume 715: debated on Wednesday 9 December 2009

Question

Asked by

To ask Her Majesty's Government further to the Written Answer by Lord McKenzie of Luton on 6 November (WA 97–8), from where the £1 billion provided for benefits and pensions from the 2.5 per cent increase in the basic state pension comes. [HL106]

The basic state pension is paid out of the National Insurance Fund. Benefits paid from the National Insurance Fund are part of annually managed expenditure, and any changes in benefit rates are accounted for in the Government's annually managed expenditure forecasts.