Proceeding contribution from David Laws (Liberal Democrat) in the House of Commons on Tuesday, 16 January 2007. It occurred during Debate on bill on Pensions Bill.
Pensions Bill
I will in a moment, but I am sure that the hon. Lady would not want to get in the way of the Secretary of State clarifying this matter. A DWP research report entitled ““Financial incentives to save for retirement””, which was published alongside the Bill, says:"““the system that we propose, in combination with the introduction of personal accounts, will see the large majority of people … expecting a payback well in excess of £1 plus inflation for every £1 that they save, subject to factors such as investment growth and fluctuations in annuity rates.””" That is an absolutely lousy rate of return.
Secondary information
- Type
- Proceeding contribution
- Reference
- 455 c691-2
- Session
- 2006-07
- Chamber / Committee
- House of Commons chamber
- Subjects
- Child benefit Carers Age Costs Women Employment Eligibility Expenditure Divorce Grandparents Index linking Pension credit Personal savings Low incomes Pay Workplace pensions Poverty Pensions Payments Personal pensions National insurance contributions Part-time employment Means-tested benefits Older workers Married people Low pay Lone parents Overseas residence Social security benefits State retirement pensions Reform Retirement Uprating Life expectancy Labour market Personal Accounts Delivery Authority State second pension
- Legislation
- Pensions Bill 2006-07
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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