1-20 of 386 results for subject:Uprating
Librarians' tools
- Search time
- 0.3 seconds
- Solr query time
- 0.006 seconds
- Search query
- subject:Uprating
- We searched for
- subject_t:Uprating OR subject_ses:93390
Type
House
Session
Month
Department
Member
More
Primary member
More
Answering member
More
Legislative stage
Legislation
More
Subject
More
Publisher
To ask the Secretary of State for Work and Pensions, whether the Government of Australia has made representations to the Government on negotiating a reciprocal social security agreement that includes the uprating of pensions.
To ask the Secretary of State for Work and Pensions, whether the Government of Australia has made representations to the Government on negotiating a reciprocal social security agreement that includes the uprating of pensions.
I refer the hon. Member to the answer given on 3 December 2020, PQ UIN 121330.
https://questions-statements.parliament.uk/written-questions/detail/2020-11-26/121330
To ask the Chancellor of the Exchequer, with reference to the outcome of the consultation on the Reform to Retail Prices Index (RPI), published on 25 November 2020. what steps the Government plans to take to (a) protect the lifetime value of people’s defined benefit pension savings which are RPI-linked...
To ask the Chancellor of the Exchequer, with reference to the outcome of the consultation on the Reform to Retail Prices Index (RPI), published on 25 November 2020. what steps the Government plans to take to (a) protect the lifetime value of people’s defined benefit pension savings which are RPI-linked...
On 25 November, the Government and UK Statistics Authority (UKSA) published their response to the consultation on the timing of reform to the Retail Prices Index (RPI). Owing to shortcomings in its calculation, UKSA intends to bring the methods and data sources of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) into RPI.
The Government and UKSA are mindful of the widespread use of RPI in the economy, and, as such, sought views in the consultation on the broader impacts of reform. The Government and UKSA received approximately 550 responses from members of defined benefit (DB) pension schemes whose benefits are linked to RPI.
It is apparent that some DB pension schemes members will be affected by UKSA’s reform. The effect of reform on the members of such schemes will depend on whether their benefits are linked to RPI under the trust deed and rules of the scheme.
The announcement in the response by the Chancellor and UKSA Chair means that reform will not be implemented before 2030. The Government keeps the occupational pensions system under review and will continue to do so.
For further information please see the consultation response at: https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology.
I thank the noble Baronesses, Lady Sherlock, Lady Ludford and Lady Janke, and the noble Lord, Lord Bhatia, for their contributions.
The noble Baroness, Lady Sherlock asked about process and timing. I recognise that it is late in the transition period, but that is the nature of EU negotiations. Good progress...
I thank the noble Baronesses, Lady Sherlock, Lady Ludford and Lady Janke, and the noble Lord, Lord Bhatia, for their contributions.
The noble Baroness, Lady Sherlock asked about process and timing. I recognise that it is late in the transition period, but that is the nature of EU negotiations. Good progress...
My Lords, these regulations, which concern policy areas of my department and Her Majesty’s Treasury, and apply UK-wide, were laid before both Houses on 16 November. They are required to clear the way for the legislation which will implement our new system of social security co-ordination with the EU, EEA...
My Lords, these regulations, which concern policy areas of my department and Her Majesty’s Treasury, and apply UK-wide, were laid before both Houses on 16 November. They are required to clear the way for the legislation which will implement our new system of social security co-ordination with the EU, EEA...
My Lords, this SI has been prepared by the Department for Work and Pensions. It will ensure that, aside from some specific saving provisions, the EU SSC regulations, which are retained on a unilateral basis under Section 3 of the EU withdrawal Act, will not take effect in domestic law...
My Lords, this SI has been prepared by the Department for Work and Pensions. It will ensure that, aside from some specific saving provisions, the EU SSC regulations, which are retained on a unilateral basis under Section 3 of the EU withdrawal Act, will not take effect in domestic law...
My Lords, I thank the Minister for her explanation of these regulations. I am also grateful to her for giving me access to her officials, who have been a source of very helpful briefing throughout this process.
Ministers have explained previously that their intention was to revoke the provisions of the...
My Lords, I thank the Minister for her explanation of these regulations. I am also grateful to her for giving me access to her officials, who have been a source of very helpful briefing throughout this process.
Ministers have explained previously that their intention was to revoke the provisions of the...
I thank the Minister for her presentation. I and others supported efforts to restrain the transfer of widespread powers to Ministers under the Immigration and Social Security Co-ordination (EU Withdrawal) Act 2020. The DPRRC recommended the removal of this clause from the Bill.
This order, as the Minister has said, is...
I thank the Minister for her presentation. I and others supported efforts to restrain the transfer of widespread powers to Ministers under the Immigration and Social Security Co-ordination (EU Withdrawal) Act 2020. The DPRRC recommended the removal of this clause from the Bill.
This order, as the Minister has said, is...
Thank you. My sincere apologies: I am jinxed on the IT front today. I am on the phone.
I repeat the objections to the powers in Clause 5 of the Immigration and Social Security Co-ordination (EU Withdrawal) Bill, which became Section 6 of the Act, which I and others expressed during...
Thank you. My sincere apologies: I am jinxed on the IT front today. I am on the phone.
I repeat the objections to the powers in Clause 5 of the Immigration and Social Security Co-ordination (EU Withdrawal) Bill, which became Section 6 of the Act, which I and others expressed during...
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect of the proposed changes to the formula for calculating the Retail Price Index, set out in his Department's response to the Consultation on the Reform of RPI Methodology, on the risk of insolvency for...
To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect of the proposed changes to the formula for calculating the Retail Price Index, set out in his Department's response to the Consultation on the Reform of RPI Methodology, on the risk of insolvency for...
On 25 November, the Government and UK Statistics Authority (UKSA) published their response to the consultation on the timing of reform to the Retail Prices Index (RPI). Owing to shortcomings in its calculation, UKSA intends to bring the methods and data sources of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) into RPI.
The consultation launched at the Budget on 11 March 2020. Originally, the consultation was set to run for six weeks, closing on 22 April 2020. However, due to the impacts of the coronavirus (COVID-19) pandemic, the Chancellor and UKSA Board decided to extend the consultation to 21 August 2020. At the close of the consultation, the Government and UKSA had received 831 written responses. As Economic Secretary to the Treasury, in July 2020 I chaired two roundtables comprising representatives of index-linked gilt holders, to hear their views on the impact of the timing of reform. The details of these meetings can be found in Annex D of the response document.
As detailed in the response document, the holders of a majority of index-linked gilts are seeking to match inflation-linked liabilities. This means that they use the returns from index-linked gilts to hedge against inflation-linked liabilities. Such investors include some defined benefit (DB) pension schemes. How such schemes’ funding positions will be impacted by reform will depend on the extent to which they are hedged and the nature of their liabilities. For some DB pension schemes, a deterioration in their funding position means that existing deficits may increase, or that surpluses may be reduced. The vast majority of index-linked gilt investors who responded to the consultation noted a strong preference for UKSA’s proposal to be implemented as late as possible, i.e. in 2030, in order to allow index-linked gilt holders as much time as possible to adjust to the reform of the RPI and to minimise any potential negative impacts they may face.
As part of the response, the Chancellor announced that while he sees the statistical arguments of UKSA’s intended approach to reform, in order to minimise the impact of reform on the holders of index-linked gilts, he will be unable to offer his consent to the implementation of such a proposal before the maturity of the final specific index-linked gilt in 2030. As it stated in the response, it is UKSA policy to address the shortcomings of RPI in full at the earliest practical time. The change proposed can legally and practically be made by UKSA in February 2030.
For further information please see the consultation response at: https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology.
To ask the Secretary of State for Work and Pensions, what recent discussions his Department has had with foreign Governments on the merits of uprating the state retirement pensions of UK pensioners living in countries where that pension is frozen.
To ask the Secretary of State for Work and Pensions, what recent discussions his Department has had with foreign Governments on the merits of uprating the state retirement pensions of UK pensioners living in countries where that pension is frozen.
The Government has no plans to change its policy on uprating UK State Pensions overseas. This is a longstanding policy which has been supported by successive Governments for over 70 years.
To ask the Secretary of State for Work and Pensions, what discussions she has had with the Secretary of State for International Trade on the policy not to uprate the UK state pensions of UK pensioners living in (a) Canada and (b) Australia; and if she will a statement.
To ask the Secretary of State for Work and Pensions, what discussions she has had with the Secretary of State for International Trade on the policy not to uprate the UK state pensions of UK pensioners living in (a) Canada and (b) Australia; and if she will a statement.
The Government has no plans to change its policy on overseas pension uprating. This is a longstanding policy which has been supported by successive Governments for over 70 years.
To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that people entering into new index-linked deals are made aware of the proposed changes to the formula for calculating the Retail Price Index, set out in his Department's response to the Consultation on the Reform...
To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that people entering into new index-linked deals are made aware of the proposed changes to the formula for calculating the Retail Price Index, set out in his Department's response to the Consultation on the Reform...
On 25 November, the Government and UK Statistics Authority (UKSA) published their response to the consultation on the timing of reform to the Retail Prices Index (RPI). Owing to shortcomings in its calculation, UKSA intends to bring the methods and data sources of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) into RPI.
The Government and UKSA engaged directly with a number of users and stakeholders to discuss the consultation. The consultation response document has been published and is available on the Government and UKSA’s websites, as below:
Under legislation, how RPI is changed is a matter for UKSA alone. This reflects the important principle established in the Act that UKSA’s judgement on statistics should be independent of Government. After expert advice from the National Statistician and following public consultation, UKSA intends to address the shortcomings in RPI by bringing in the methods and data sources of CPIH. This intended approach was made public in September 2019. Following consultation, UKSA confirmed publicly that the change proposed can legally and practically be made by UKSA in February 2030. It is the role of UKSA – as set out in legislation - to promote and safeguard official statistics.
To ask the Secretary of State for Work and Pensions, whether the Government of Canada has made representations to the Government on negotiating a reciprocal social security agreement that covers the uprating of pensions.
To ask the Secretary of State for Work and Pensions, whether the Government of Canada has made representations to the Government on negotiating a reciprocal social security agreement that covers the uprating of pensions.
The Department has recently received representations from the Government of Canada to negotiate a reciprocal social security agreement covering the uprating of pensions.
We have not received any recent similar representations from Australia on this issue.
My Hon. Friend, the Minister of State for the Constitution and Devolution (Chloe Smith MP) has today made the following Written Statement:
Elections rely upon political parties and candidates’ ability to communicate their views and commitments so that voters can make an informed decision. To this end, it is right that...
My Hon. Friend, the Minister of State for the Constitution and Devolution (Chloe Smith MP) has today made the following Written Statement:
Elections rely upon political parties and candidates’ ability to communicate their views and commitments so that voters can make an informed decision. To this end, it is right that...
Elections rely upon political parties and candidates’ ability to communicate their views and commitments so that voters can make an informed decision. To this end, it is right that registered parties and nominated candidates can incur campaign expenditure, but it is also right that there are limits on this expenditure...
Elections rely upon political parties and candidates’ ability to communicate their views and commitments so that voters can make an informed decision. To this end, it is right that registered parties and nominated candidates can incur campaign expenditure, but it is also right that there are limits on this expenditure...
To ask the Secretary of State for Work and Pensions, whether the Government of Australia has made representations to the Government on negotiating a reciprocal social security agreement that covers the uprating of pensions.
To ask the Secretary of State for Work and Pensions, whether the Government of Australia has made representations to the Government on negotiating a reciprocal social security agreement that covers the uprating of pensions.
The Department has recently received representations from the Government of Canada to negotiate a reciprocal social security agreement covering the uprating of pensions.
We have not received any recent similar representations from Australia on this issue.
What assessment he has made of the economic effect of increasing legacy benefits by £20 per week in line with the recent increase to the standard universal credit allowance.
What assessment he has made of the economic effect of increasing legacy benefits by £20 per week in line with the recent increase to the standard universal credit allowance.
The £20 per week increase to universal credit and working tax credit is benefiting claimants by a total of £6.1 billion this year and is just one part of the wide-ranging package of Government support during this crisis.