HC Deb 10 June 1997 vol 295 cc431-2W
Mr. John Cryer

To ask the Secretary of State for Social Security if she will make a statement on the Government's plans to establish a state second-tier pension. [2501]

Mr. Denham

We will be setting up a review of the central areas of insecurity for the elderly which will cover second tier pensions including SERPS. We intend to retain SERPS for those who wish to remain in it and will seek to develop the administrative structure of SERPS so as to create a "citizenship pension" for those who assume responsibility as carers and as a result lose out on the pension entitlements they would otherwise acquire.

We will also be developing a new framework of stakeholder pensions to provide value for money, flexible and secure second pensions particularly for those on low and modest incomes, with changing patterns of employment, and who cannot join an employee occupational scheme. These will be based on new partnerships between financial service companies, employers and employees.