§ Mr. RendelTo ask the Secretary of State for Social Security what estimate he has made of the number of men with SERPS entitlement who retired between 1986 and 1996. [72044]
§ Mr. TimmsWe estimate that there are approximately 2 million male pensioners in Great Britain, who are aged between 68 and 78 and who have some entitlement to additional pension from SERPS.
Source:
5 per cent. sample of the Pensions Strategy Computer System (PSCS) drawn at January 1999.
§ Mr. RendelTo ask the Secretary of State for Social Security how many of the men with SERPS entitlements who retired between 1986 and 1996 he estimates may have made financial arrangements on the basis of the incomplete information included in DSS leaflets NP45 and NP46 published between 1986 and spring 1996. [72045]
§ Mr. TimmsWe estimate that there are approximately 2 million male pensioners in Great Britain who retired between 1986 and 1996 and who have some SERPS entitlement. They will have made their financial arrangements on the basis of various sources of information.
§ Mr. RendelTo ask the Secretary of State for Social Security if he plans to write to all the men with SERPS entitlements who retired between 1986 and 1996 whose decisions may have been affected by the incomplete information provided in DSS leaflets NP45 and NP46 between 1986 and spring 1996; and if he will compensate all those who have been affected. [72046]
171W
§ Mr. TimmsWe are considering ways to heighten general awareness of the reduction from 100 per cent. to 50 per cent. in the amount of SERPS which can be inherited by a surviving spouse from 6 April 2000. Current widows and those widowed before 6 April 2000 will not be affected by this change. Existing compensation arrangements can offer redress to those who can show that their financial decisions have been affected to their detriment by misleading information provided by the Department.