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1535683

	registered interest
	date	25/10/2022
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Pensions: Private Sector
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what recent assessment her Department has made of the impact of the present economic situation on private sector pensions schemes; and if she will take steps to ensure that any higher contribution costs introduced in such schemes as a result of the present economic situation are met by increased employer, not employee, contributions.
	tabling member constituency	York Central
	tabling member printed	Rachael Maskell
	uin	71125
	answer	answer is ministerial correction date of answer 31/10/2022 answer text <p>Pension schemes operate over very long timescales and the long term performance of their investments is more important to outcomes than any short term volatility.</p><p> </p><p>Since 2021 rising gilt yields have had a positive impact on the funding of defined benefit pension schemes. Aggregate funding has improved substantially, and a large number of schemes now have a funding surplus. The magnitude and speed of the rise in gilt yields at the end of September caused a significant liquidity squeeze for DB pension schemes that use liability driven investments (LDI) to hedge against low interest rates and their LDI providers, but any economic losses are very likely to be more than offset by improvements to scheme funding positions. As aggregate funding positions are likely to have improved, we do not expect to see any general need for increased contributions from employers or members.</p><p> </p><p>The value of investments can change in defined contribution (DC) schemes, though these vehicles are designed to maximise outcomes over the long term and offer choices at retirement. In schemes used for automatic enrolment there are statutory minimum contribution rates, but employers can offer higher contributions, which members can choose to take up, should they so wish.</p><p> </p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 31/10/2022 17:14:20 answering member 4780 label Biography information for Laura Trott
	tabling member	4471 label Biography information for Rachael Maskell

1535736

	registered interest
	date	25/10/2022
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, in what circumstances a man's pension that is subject to a Section 32 buyout policy will not pay out until the age of 65; and for what reasons there are restrictions on pensions subject to a buyout policy.
	tabling member constituency	East Ham
	tabling member printed	Sir Stephen Timms
	uin	70946
	answer	answer is ministerial correction date of answer 31/10/2022 answer text <p>A Section 32 buy-out policy is an individual contract between an individual and usually an insurance company, purchased using funds transferred from an occupational pension scheme.</p><p> </p><p>Such a contract can and may pay out before the age of 65 for a man. However, a Section 32 policy may contain a Guaranteed Minimum Pension (GMP), and where it does, it must, as a minimum, pay a GMP from age 65 for a man or 60 for a woman, regardless of investment performance. Where there are insufficient funds to pay additional benefits, a Section 32 policy may therefore pay out only the GMP from these ages. This is a valuable guarantee, as it means that a person’s retirement income cannot decline below the amount of the GMP.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 31/10/2022 17:12:20 answering member 4780 label Biography information for Laura Trott
	tabling member	163 label Biography information for Sir Stephen Timms

1535942

	registered interest
	date	25/10/2022
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Pensioners: Coventry
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what support her Department is providing to pensioners in (a) Coventry North East constituency and (b) Coventry to mitigate the effects of the rising cost of living.
	tabling member constituency	Coventry North East
	tabling member printed	Colleen Fletcher
	uin	71101
	answer	answer is ministerial correction date of answer 31/10/2022 answer text <p>This winter, pensioner households in Coventry North East constituency and Coventry, will receive an increased Winter Fuel Payment of £500 or £600 depending on their age. This will be paid on top of any other one-off support they are entitled to, for example where they are on Pension Credit or receive disability benefits, including the £650 Cost of Living Payment.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 31/10/2022 17:08:51 answering member 4780 label Biography information for Laura Trott
	tabling member	4378 label Biography information for Colleen Fletcher

1536520

	registered interest
	date	26/10/2022
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	State Retirement Pensions: Cost of Living Payments
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, if he has considered the potential merits of making the Cost of Living Payment available to households that are receiving state pension but are not eligible for pension credit.
	tabling member constituency	Kingston upon Hull West and Hessle
	tabling member printed	Emma Hardy
	uin	72435
	answer	answer is ministerial correction date of answer 03/11/2022 answer text <p>The Cost of Living Payment is deliberately targeted at low-income households in receipt of a qualifying means tested benefit. For people above State Pension age, this is those in receipt of Pension Credit. Non-means tested benefits, such as the State Pension are not eligible benefits for the Cost of Living Payment in their own right because people receiving these benefits may have other financial resources available to them. Pension Credit claimants are eligible for the Cost of Living Payment if they are entitled to Pension Credit at the time of the qualifying period, even if entitlement was determined after this. We urge pensioners to check their eligibility for Pension Credit, using the GOV.UK online calculator or by calling the freephone claim line.</p><p> </p><p>The qualifying period for the second £324 Cost of Living Payment is 26 August to the 25 September 2022. Pension Credit can be backdated for up to 3 months from the date of claim, for those who are eligible, so it is not too late to make a claim and qualify for the second Cost of Living Payment. The last date for making a successful backdated application to qualify for the second Cost of Living payment is 18 December.</p><p> </p><p>For pensioners not eligible for the Cost of Living Payment, or for those that need more support, government is providing a range of help. Pensioners who are entitled to a Winter Fuel Payment for winter 2022 to 2023 will get an extra £300 for their household paid with their normal payment from November. That means over 8 million pensioner households across the UK will receive an increased Winter Fuel Payment of £500/£600 this winter, depending on age, and this will be paid on top of any other one-off support a pensioner household is entitled to.</p><p> </p><p>Pensioners are also being supported through the Energy Price Guarantee and the Energy Bills Support scheme, and government is providing an additional £500 million to help households with the cost of essentials through the Household Support Fund, bringing the total funding for this support to £1.5 billion.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 03/11/2022 17:50:46 answering member 4780 label Biography information for Laura Trott
	tabling member	4645 label Biography information for Emma Hardy

1536543

	registered interest
	date	26/10/2022
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	State Retirement Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what plans he has to make a statement on the Government's position on the triple-lock pension.
	tabling member constituency	Sunderland Central
	tabling member printed	Julie Elliott
	uin	72262
	answer	answer is ministerial correction date of answer 02/11/2022 answer text <p>The Secretary of State for Work and Pensions is currently conducting his statutory annual review of State Pension and benefit rates. We cannot pre-empt the outcome of that review, which will be announced in due course.</p><p> </p><p>Our priority is to protect the most vulnerable, including those who cannot increase their earnings through work, such as pensioners who are in a unique position.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 02/11/2022 14:17:02 answering member 4780 label Biography information for Laura Trott
	tabling member	4127 label Biography information for Julie Elliott

1536736

	registered interest
	date	27/10/2022
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Social Security Benefits: Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, for what reason it is not his policy to allow people who would be entitled to (a) winter fuel support payments and (b) other pension-related benefits but missed the qualifying deadline to claim a pro rata payment.
	tabling member constituency	York Central
	tabling member printed	Rachael Maskell
	uin	73045
	answer	answer is ministerial correction date of answer 01/11/2022 answer text <p>The Department pays over 11m Winter Fuel Payments every year. Having a qualifying deadline for Winter Fuel Payments and other pension-related benefits allows the department time to undertake the required checks on entitlement, calculate an individual’s entitlement, issue notifications and commence making payments.</p><p> </p><p>There are no plans to introduce pro rata payments.</p><p /> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 01/11/2022 16:43:46 answering member 4780 label Biography information for Laura Trott
	tabling member	4471 label Biography information for Rachael Maskell

1536737

	registered interest
	date	27/10/2022
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	State Retirement Pensions: Uprating
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, whether it is his policy to restore the triple lock on pensions in (a) 2023-24 and (b) future years.
	tabling member constituency	York Central
	tabling member printed	Rachael Maskell
	uin	73046
	answer	answer is ministerial correction date of answer 01/11/2022 answer text <p>The Secretary of State for Work and Pensions is currently conducting his statutory annual review of State Pension and benefit rates. We cannot pre-empt the outcome of that review, which will be announced in due course.</p><p> </p><p>Our priority is to protect the most vulnerable, including those who cannot increase their earnings through work, such as pensioners who are in a unique position</p><p> </p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 01/11/2022 16:48:04 answering member 4780 label Biography information for Laura Trott
	tabling member	4471 label Biography information for Rachael Maskell

1537104

	registered interest
	date	28/10/2022
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Cost of Living Payments: Pensioners
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, whether his Department has made a recent assessment of the potential merits of extending the extra cost of living payment for pensioners that receive a winter fuel payment beyond 2023.
	tabling member constituency	East Dunbartonshire
	tabling member printed	Amy Callaghan
	uin	73896
	answer	answer is ministerial correction date of answer 01/11/2022 answer text <p>Pensioner households will receive a one-off pensioner Cost-of-Living payment in 2022/23, worth £300. This will be paid in November or December as a top up with the Winter Fuel Payment. Therefore, a household with someone of State Pension age will receive £500 and a household with someone aged 80 or over will receive £600.</p><p> </p><p>No decisions have been taken regarding 2023/24.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 01/11/2022 16:51:00 answering member 4780 label Biography information for Laura Trott
	tabling member	4770 label Biography information for Amy Callaghan

1537256

	registered interest
	date	31/10/2022
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Workplace Pensions: Monitoring
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what steps his Department is taking to ensure effective oversight of workplace pension schemes.
	tabling member constituency	Cheadle
	tabling member printed	Mary Robinson
	uin	901927
	answer	answer is ministerial correction date of answer 31/10/2022 answer text <p>The Pension Schemes Act 2021 provides The Pensions Regulator with new powers to target people who intentionally or knowingly mishandle pension schemes, or put workers’ pensions at risk.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 31/10/2022 16:26:36 answering member 4780 label Biography information for Laura Trott
	tabling member	4406 label Biography information for Mary Robinson

1537553

	registered interest
	date	31/10/2022
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	State Retirement Pensions: West Yorkshire
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, how many people are eligible for the state pension in (a) Morley and Outwood constituency and (b) West Yorkshire.
	tabling member constituency	Morley and Outwood
	tabling member printed	Andrea Jenkyns
	uin	74791
	answer	answer is ministerial correction date of answer 07/11/2022 answer text <p>In the quarter ending February 2022 the State Pension caseload in Morley and Outwood constituency was 17,826.</p><p> </p><p>In the quarter ending February 2022 the State Pension caseload in the following Local Authorities was:</p><table><tbody><tr><td><p>Bradford</p></td><td><p>77,153</p></td></tr><tr><td><p>Calderdale</p></td><td><p>37,118</p></td></tr><tr><td><p>Kirklees</p></td><td><p>72,053</p></td></tr><tr><td><p>Leeds</p></td><td><p>118,932</p></td></tr><tr><td><p>Wakefield</p></td><td><p>62,935</p></td></tr></tbody></table><p> </p><p>Source: <a href="https://www.gov.uk/government/statistics/dwp-benefits-statistics-august-2022" target="_blank">DWP benefits statistics: August 2022 - GOV.UK (www.gov.uk)</a></p><p> </p><p>These figures do not include people who are deferring their State Pension.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 07/11/2022 15:22:18 answering member 4780 label Biography information for Laura Trott
	tabling member	4490 label Biography information for Dame Andrea Jenkyns