Pensions (Hansard, 2 April 1990)

§ 32. Mr. McFall
To ask the Secretary of State for Social Security what plans he has to restore the link between the level of pensions and the higher of the increases in the retail prices index and earnings.

§ Mrs. Gillian Shephard
We have no plans to do so. The link between retirement pension and increases in earnings is not the key factor in improving pensioners' incomes. What matters most to pensioners is their total income; between 1979 and 1987 pensioners' average total net income increased by more than 31 per cent. in real terms.
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§ 47. Mr. Murphy
To ask the Secretary of State for Social Security if he will take steps to ensure that the requirement for occupational pensions schemes to revalue pensions in payment is applied in the same way to money purchase schemes and personal pension schemes.

§ Mr. Ron Davies
To ask the Secretary of State for Social Security if he will take steps to ensure that the requirement for occupational pensions schemes to revalue pensions in payment applies in the same way to money purchase schemes and personal pension schemes.

§ Mrs. Gillian Shephard
My right hon. Friend recently announced our further proposals to protect members of occupational pension schemes. Schemes, except those providing a money purchase benefit, will have to pay annual increases to members for their pension rights which they build up after an appointed Day. Rather different considerations apply in the case of money purchase and personal pension schemes. Their members already have the opportunity to use the proceeds of their investments to choose a pension that increases after retirement. We intend to consider the question of requiring members of such schemes to take any annuity providing pension increases as part of the next review of the terms of contracting-out of the state earnings related pension scheme.

§ 61. Mr. Roy Hughes
To ask the Secretary of State for Social Security if he has any plans to index-link pensions with earnings.

§ Mrs. Gillian Shephard
I refer the hon. Member to my reply to him on 7 March at column679.

§ 22. Mr. Flynn
To ask the Secretary of State for Social Security how much he estimates has been spent in 1990 on advertising(a) personal pensions schemes and (b) the state earnings-related pension.

§ 40. Mr. Morley
To ask the Secretary of State for Social Security what is his estimate of the total that has been spent in 1990 on advertising(a) personal pensions schemes and (b) the state earnings-related pension.

§ Mr. Michael
To ask the Secretary of State for Social Security how much he estimates has been spent in 1990 on advertising(a) personal pension schemes and (b) the state earnings-related pension.

§ Mrs. Gillian Shephard
Nothing has been spent in 1990 on such advertising by the Department of Social Security.

§ 50. Mr. Ward
To ask the Secretary of State for Social Security what is the latest estimate of the number of people who have taken out appropriate personal pensions.

§ Mrs. Gillian Shephard
I refer my hon. Friend to the answer given to my hon. Friend the Member for Harlow (Mr. Hayes) earlier today.