Written question asked by Lord Taylor of Goss Moor (Liberal Democrat) on Monday, 17 June 2002, in the House of Commons. It was due for an answer on Friday, 21 June 2002. It was answered by Lord Boateng (Labour) on Friday, 21 June 2002 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, pursuant to his Answer of 22nd April to the honourable Member for Glasgow, Pollok, Official Report, 384 c92W, on pension liabilities, if he will list the liabilities of the UK Government to unfunded public service pension schemes broken down by pension scheme; and what assessment he has made of the proportion of the rise in liabilities in recent years due to (a) wage inflation, (b) longevity, (c) extension of the rights of part time workers and (d) other factors; and if he will make a statement. - Inc ref to 12 June 2002, 386 c1290-91W and figures.

Answer: Matthew Taylor: :To ask the Chancellor of the Exchequer, pursuant to his answer of 22 April 2002, to the hon. Member for Glasgow, Pollock (Mr. Davidson), Official Report, column 92W, on pension liabilities, if he will list the liabilities of the UK Government to unfounded public service pension schemes broken down by pension scheme; and what assessment he has made of the proportion of the rise in liabilities in recent years due to (a) wage inflation, (b) longevity, (c) extension of the rights of part time workers and (d) other factors; and if he will make a statement. [63205] Mr. Boateng: :For the main unfounded schemes' liabilities as at 31 March 2001 I refer the hon. gentleman to my answer of 12 June, Official Report, columns 1290-91W. There is an underlying increase in the cash values of about 13 per cent. since March 1998. Precise figures are not available for the proportion of the overall rise which is due to the factors specified, but well over half is the result of inflation and most of the rest is due to earnings growth.

Secondary information

Type: Written question
Reference: 387 c586W; 63205
Session: 2001-02
Subjects: Liability Pay Workplace pensions Public sector Part-time employment Pension rights
Contains statistics: Yes
Link: View this Written question on www.publications.parliament.uk