Commons Sense

House of Commons · Written Ministerial Statement

Pensions: Response to COVID-19

27 April 2020 · Department for Work and Pensions

Proposed by Guy Opperman Con Hexham

Benefits & Welfare

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • UK government revokes planned levy increase on pensions, providing 4.9m in savings for the private sector.
  • Government supports employers by covering up to 80% of furloughed workers' salaries and employer pension contributions.
  • Guidance is provided to Defined Benefit schemes and measures are taken to protect savers from scams.

Issue summary

The statement outlines measures taken by the UK government to support pension savers, schemes, and beneficiaries during the COVID-19 pandemic.

Action requested

The government has revoked a planned levy increase on pensions, providing £4.9m in savings for the private sector. It also supports employers through the Coronavirus Job Retention Scheme, covering up to 80% of furloughed workers' salaries and employer pension contributions. Additionally, guidance is provided to Defined Benefit schemes and measures are taken to protect savers from scams.

Key facts

  • The government revoked a planned £4.9m general pensions levy increase on April 1st, 2020.
  • The Coronavirus Job Retention Scheme covers up to 80% of furloughed workers' salaries and employer pension contributions.
  • Guidance for Defined Benefit schemes is provided to handle the current situation flexibly.
  • Approximately 900,000 POca customers have been supported to access their pensions or benefits during shielding.
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