Written question asked by Gavin Newlands (Scottish National Party) on Tuesday, 26 March 2024, in the House of Commons. It was due for an answer on Monday, 15 April 2024. It was answered by Paul Maynard (Conservative) on Tuesday, 16 April 2024 on behalf of the Department for Work and Pensions.

State Pension Regulations 2015

Question: To ask the Secretary of State for Work and Pensions, what assessment he has made of the potential impact of the provisions of the State Pension Regulations 2015 which prevent individuals from taking (a) a lump sum payment and (b) an enhanced pension on the finances of pensioners.

Answer

No such specific assessment has been made.

The Government prepared an impact assessment which looked at the effect of the new State Pension reforms overall on the various types of income that pensioners receive from the state, available at: The single-tier pension: a simple foundation for saving - Impact Assessment (publishing.service.gov.uk).

This included estimates on the impacts of changes to deferral policy.

Secondary information