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1134473

registered interest
date	25/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Workplace Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps the Government has taken to implement its response to the Indexation and equalisation of the Guaranteed Minimum Pension in public service pension schemes consultation for people reaching state pension age after December 2018.
tabling member constituency	Twickenham
tabling member printed	Sir Vince Cable
uin	268958
answer	answer is ministerial correction date of answer 01/07/2019 answer text <p>The Government has implemented the commitment made in the January 2018 GMP equalisation and indexation consultation response to continue to index the total public service pension, including the GMP, for public servants who reach State Pension age on or after 6 December 2018 and before 6 April 2021.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 01/07/2019 12:31:54 answering member 4097 label Biography information for Elizabeth Truss
tabling member	207 label Biography information for Sir Vince Cable

1125658

registered interest
date	09/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Workplace Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of (a) removing and (b) raising the lifetime pension cap for public sector employees.
tabling member constituency	South Antrim
tabling member printed	Paul Girvan
uin	252614
answer	answer is ministerial correction date of answer 15/05/2019 answer text <p>The Government is committed to public service pensions which are fair to workers and fair to other taxpayers. Public service workers are entitled to defined benefit pension schemes, which are among the best schemes available. Since 2010, the Government has made reforms to limit pensions tax relief for those on the highest incomes that save over £6 billion per year, and are necessary to deliver a fair system and protect the public finances.</p><p> </p><p>The pension tax rules apply equally across all registered public and private sector defined benefit schemes. In April 2016, the lifetime allowance (LTA) was reduced to £1,000,000. However, from April 2018 it has increased in line with CPI. This means for 2019-20 the LTA increased to £1,055,000. This allows savers to continue to make significant amounts of pension savings tax-free, while ensuring incentives to save are targeted across society.</p><p> </p><p>The LTA affects only the wealthiest pension savers. Around 95 per cent of individuals currently approaching retirement have a pension pot worth less than the LTA, while the median pension pot for individuals approaching retirement is around £170,000.</p><p> </p><p>The Government does keep all aspects of the tax system under review through the annual Budget process, in the context of the wider public finances.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 15/05/2019 15:57:50 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4633 label Biography information for Paul Girvan

1104961

registered interest
date	25/03/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Workplace Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 19 April 2018 to Question 135229 on Public Sector: Pensions, what progress has been made by responsible Departments in implementing the necessary regulatory changes arising from the Walker v. Innospec Limited judgement.
tabling member constituency	Livingston
tabling member printed	Hannah Bardell
uin	236560
answer	answer is ministerial correction date of answer 28/03/2019 answer text <p>Departments responsible for the Police, Firefighters’, NHS, Local Government and Armed Forces pension schemes have made the necessary regulatory changes arising from the Walker v. Innospec Limited judgment. Departments responsible for the Teachers’ and Civil Service pension schemes are in the process of doing so.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 28/03/2019 13:18:27 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4486 label Biography information for Hannah Bardell

1011549

registered interest
date	21/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Workplace Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how much he has allocated to the Home Office for 2019-20 to cover changes in relation to quadrennial valuations of the public service pension schemes.
tabling member constituency	Sheffield, Heeley
tabling member printed	Louise Haigh
uin	194173
answer	answer is ministerial correction date of answer 26/11/2018 answer text <p>The Budget allocated extra funding to the reserve for 2019-20 to cover an expected £4.7 billion of unforeseen additional costs arising from the ongoing valuations of public service pension schemes. The Treasury is currently working with departments to confirm departmental allocations of this funding.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 26/11/2018 13:37:51 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4473 label Biography information for Louise Haigh