Proceeding contribution from Lord Hain (Labour) in the House of Commons on Monday, 7 January 2008. It occurred during Debate on bill on Pensions Bill.
Pensions Bill
I shall happily remind the hon. Lady of the key points. A written ministerial statement was made to the House, and she is free to send it to her constituents. However, let me highlight the points that may help her. All scheme members will be guaranteed 90 per cent. of their accrued pension. There will be increasing payment of assistance based on the post-1997 service, in line with inflation. Assistance from the scheme's normal retirement age provision will be paid, subject to a lower limit of 60. Members will be allowed to take part of their pension as a lump sum. Assistance will be extended to members of schemes that wound up underfunded and, of course, dependants will benefit in the way that was intended. That is a good package in the circumstances. As I said, the hon. Lady can send the details from the written ministerial statement, which was tabled just before Christmas.
Secondary information
- Type
- Proceeding contribution
- Reference
- 470 c60-1
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Costs Advisory services Women Pension credit Personal income Workplace pensions Poverty Pensions Personal pensions Means-tested benefits Pension funds State retirement pensions Small businesses Reform National employment savings trust scheme
- Legislation
- Pensions Bill 2007-08
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2025-01-13 13:08:31 +0000
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