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tabling member printed	Gregg McClymont
ddp modified	2015-02-07T03:35:51.693Z

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47365

human indexable

published

registered interest

answer date

10/04/2014

date

07/04/2014

date tabled

07/04/2014

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07/04/2014 22:02:49

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07/02/2015 03:35:51

answering body

Department for Work and Pensions

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Tabled

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Work and Pensions

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Work and Pensions

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195426

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25259

	pref label	House of Commons

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10/04/2014 12:00:00

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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.

session

2013/14

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tabling member constituency

Cumbernauld, Kilsyth and Kirkintilloch East

tabling member printed

Gregg McClymont

title

House of Commons Tabled Parliamentary Question 2013/14 195426

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WrittenParliamentaryQuestion

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195426

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NamedDay

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	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	220

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3949

	label	Biography information for Gregg McClymont

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25259

	pref label	House of Commons

tabling member

3949

	label	Biography information for Gregg McClymont