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47365
registered interest false more like this
date less than 2014-04-07more like thismore than 2014-04-07
answering body
Department for Work and Pensions more like this
answering dept id 29 more like this
answering dept short name Work and Pensions more like this
answering dept sort name Work and Pensions more like this
house id 1 more like this
legislature
25259
pref label House of Commons remove filter
question text To ask the Secretary of State for Work and Pensions, what estimate he has made of the minimum income per annum required during an individual's working life to prevent the need to claim means-tested benefits in retirement. more like this
tabling member constituency Cumbernauld, Kilsyth and Kirkintilloch East more like this
tabling member printed
Gregg McClymont remove filter
uin 195426 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2014-04-10more like thismore than 2014-04-10
answer text <p /> <p /> <p>No such estimate has been made.</p><p> </p><p>The single-tier pension will be set above the level of the Standard Minimum Guarantee for a single person. This means that for people reaching State Pension age from April 2016 onwards, anyone who has built up 35 qualifying years through National Insurance contributions and credits should have an income above the level of the basic means test, regardless of how much they earned during their working life.</p><p> </p><p>Some pensioners will still require means-tested support, and at a given level of retirement income an individual's eligibility will depend on a number of factors. These include the level and nature of their housing costs, whether they are single or in a couple, whether they have additional needs associated with caring or severe disability and whether they reached State Pension age before or after the introduction of the single-tier pension.</p><p> </p><p>Whether or not a particular salary level in working life would lead to an income in retirement that is high enough to avoid eligibility for any means-tested benefits will also depend on the choices an individual makes, including how much of their income to save for retirement.</p>
answering member constituency Thornbury and Yate remove filter
answering member printed Steve Webb more like this
question first answered
remove filter
answering member
220
label Biography information for Steve Webb more like this
tabling member
3949
label Biography information for Gregg McClymont more like this