Pensions

Supported the measure but emphasised the need for a wider context. Noted that many UK pensioners rely solely on state pensions, and highlighted challenges in retirement such as regulation of profit-making consolidation vehicles for defined benefit pension schemes, creating conditions to support defined benefit schemes, safeguarding the public dashboard from exploitation, ending pension scams, assessing climate risk in pension investments, encouraging take-up of pension credit entitlements and awareness of free TV licences. Also raised concerns about Arcadia's pension scheme viability.

Chairman of the all-party parliamentary group on frozen pensions, highlighted the issue of UK citizens living abroad with their pensions frozen and called for reciprocal agreements with countries like Canada. Criticised successive governments for failing to address this issue and urged the current government to enter into negotiations with Canada to resolve the situation.

Expressed gratitude to the Minister for his speech and highlighted the poor state of pensions in the UK, particularly mentioning frozen pensions affecting veterans abroad. David also raised concerns about the impact on WASPI women due to changes in pension age and criticised the discontinuation of take-up campaigns for Pension Credit during the pandemic.

Concerns have been raised about the Government's handling of GMP indexation, including maladministration as identified by the ombudsman. The Department has not fulfilled its obligations to ensure that affected individuals receive appropriate communication from the DWP about their state pensions.

This is a technical piece of legislation that ensures those who accrued pensions from contracted-out defined benefit schemes between 1988 and 1997 will receive increases in line with inflation. I agree that the Government should proactively reach out to those who may have missed out on moneys due to error or omission.

Welcomed the Government’s announcement in March 2016 regarding full indexation of public service pensions. Acknowledged the extension to those reaching state pension age by April 2021 and looks forward to further extensions based on consultations. Criticised the frozen pension policy affecting UK pensioners living abroad, particularly in Canada, highlighting instances like Anne Puckridge and Peggy Buchanan who are denied full uprating of their pensions despite contributing to the system. Emphasised the importance of addressing this moral injustice by legislating for fair treatment regardless of where one lives.

Responded to contributions from colleagues, noting the debate's focus on the Guaranteed Minimum Pensions Increase Order 2021 but covering broader pension issues. Acknowledged efforts by the Labour Government between 1997 and 2010 in addressing similar policies. Highlighted ongoing work regarding DB support, climate change integration into pensions, and tackling pension scams through legislation. Reiterated the longstanding policy on overseas pensions uprating without intention to change it despite calls from Members like Sir Roger Gale and Jim Shannon.

Made a point of order regarding his omission in mentioning an entry in the Register of Members’ Financial Interests during an urgent question about shellfish on the previous day. Mentioned this to ensure transparency and compliance with procedural requirements.