HC Deb 07 May 1998 vol 311 c464W
Ms Stuart

To ask the Secretary of State for Social Security what would be the annual cost of providing an annual statement of state pension entitlement forecast to each individual. [39986]

Mr. Denham

At present forecasts of State pension entitlement are provided on request, each one costing around £3.50. Providing these forecasts annually to each of the 35 million individuals of working age would cost around £120 million, although the feasibility of doing so would need to be examined.

We believe that enabling individuals to develop greater financial and economic awareness is crucial if we are to give everyone the confidence to make informed choices and take control of their financial future. The Pensions Education Working Group which was established last year as part of our pensions review is producing recommendations on how awareness of pensions and financial education could be improved.

We will be giving details of the Group's findings in due course.