§ Mr. Liddell-GraingerTo ask the Secretary of State for Work and Pensions what assessment he has made of the number of people eligible for means-tested benefits on incentives to save. [186546]
§ Malcolm WicksIn its response last year to the Work and Pensions Select Committee's Third Report on The Future of UK Pensions, the Government recognised that it is important to improve our understanding of savings decisions and how savings incentives work.
Eligibility for income related benefits is one of many factors likely to influence incentives to save. However these are complex questions and we want to engage with academic and other experts on how best to assess the influences on savings behaviour. The Government has established the independent Pensions Commission to monitor and keep under review the voluntary system of private pensions and long term savings.