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1662617

registered interest
date	02/10/2023
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	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made, if any, of the change in value of the full basic state pension weekly payment in 2023–24 if it had been linked only to consumer price index inflation since 2010.
tabling member printed	Baroness Altmann
uin	HL10442
answer	answer is ministerial correction date of answer 16/10/2023 answer text <p>The full weekly amount of basic State Pension would have been worth £139.10 in 2023-24 if it had been uprated by inflation (CPI) since 2010.</p> answering member printed Viscount Younger of Leckie question first answered 16/10/2023 15:47:32 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	4533 label Biography information for Baroness Altmann

1196933

registered interest
date	18/05/2020
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	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what estimate they have made of the cost to the Exchequer for each of the next 20 years of increasing state pensions by the best of price or earnings inflation in place of a triple lock.
tabling member printed	Baroness Altmann
uin	HL4643
answer	answer is ministerial correction date of answer 02/06/2020 answer text <p>The table below provides the estimated cost to the Exchequer for each of the next 20 years of increasing state pensions by the best of price or earnings inflation (‘double lock’) in place of a triple lock.</p><p>The figures assume that the change in uprating happens from 2023/24<strong>.</strong> They are based on analysis done in 2018, so they do not take into account any impacts of covid-19<strong>. </strong></p><p> </p><table><tbody><tr><td><p> </p></td><td colspan="2"><p><strong>Expenditure Prices (£billion) as a percentage of GDP</strong></p></td></tr><tr><td><p><strong>Financial Year</strong></p></td><td><p><strong>Double Lock</strong></p></td><td><p><strong>Triple Lock</strong></p></td></tr><tr><td><p>2020/21</p></td><td><p>4.6</p></td><td><p>4.6</p></td></tr><tr><td><p>2021/22</p></td><td><p>4.7</p></td><td><p>4.7</p></td></tr><tr><td><p>2022/23</p></td><td><p>4.7</p></td><td><p>4.7</p></td></tr><tr><td><p>2023/24</p></td><td><p>4.7</p></td><td><p>4.7</p></td></tr><tr><td><p>2024/25</p></td><td><p>4.8</p></td><td><p>4.8</p></td></tr><tr><td><p>2025/26</p></td><td><p>4.9</p></td><td><p>4.9</p></td></tr><tr><td><p>2026/27</p></td><td><p>4.9</p></td><td><p>4.9</p></td></tr><tr><td><p>2027/28</p></td><td><p>4.7</p></td><td><p>4.8</p></td></tr><tr><td><p>2028/29</p></td><td><p>4.8</p></td><td><p>4.8</p></td></tr><tr><td><p>2029/30</p></td><td><p>4.9</p></td><td><p>4.9</p></td></tr><tr><td><p>2030/31</p></td><td><p>5.0</p></td><td><p>5.0</p></td></tr><tr><td><p>2031/32</p></td><td><p>5.1</p></td><td><p>5.2</p></td></tr><tr><td><p>2032/33</p></td><td><p>5.2</p></td><td><p>5.3</p></td></tr><tr><td><p>2033/34</p></td><td><p>5.3</p></td><td><p>5.4</p></td></tr><tr><td><p>2034/35</p></td><td><p>5.4</p></td><td><p>5.5</p></td></tr><tr><td><p>2035/36</p></td><td><p>5.5</p></td><td><p>5.6</p></td></tr><tr><td><p>2036/37</p></td><td><p>5.6</p></td><td><p>5.7</p></td></tr><tr><td><p>2037/38</p></td><td><p>5.6</p></td><td><p>5.7</p></td></tr><tr><td><p>2038/39</p></td><td><p>5.6</p></td><td><p>5.7</p></td></tr><tr><td><p>2039/40</p></td><td><p>5.7</p></td><td><p>5.7</p></td></tr><tr><td><p>2040/41</p></td><td><p>5.7</p></td><td><p>5.8</p></td></tr></tbody></table><p><em>Source: DWP modelling. The figures include the cost of the State Pension. They do not include the cost of Pension Credit or other pensioner benefits. </em></p> answering member printed Baroness Stedman-Scott question first answered 02/06/2020 16:15:17 answering member 4174 label Biography information for Baroness Stedman-Scott
tabling member	4533 label Biography information for Baroness Altmann