§ Sir Norman FowlerTo ask the Secretary of State for Social Security what estimate he has made of (a) the annual savings in public spending which will result from the pension changes, with particular reference to the state earnings-related pension scheme, made by the Social Security Act 1986 in the years (i) 2000, (ii) 2005, (iii) 2010, (iv) 2015, (v) 2020 and (vi) 2025, and (b) the maximum annual saving from those changes. [30141]
§ Mr. HealdThe information requested is not available. Net savings in public expenditure cannot be estimated over the period; for example, we cannot predict the offsetting savings on income-related benefits this far in advance.
Estimates of expenditure on additional pension are given in the table.
The maximum annual saving in expenditure on additional pension from the changes made by the Social Security Act 1986 is estimated at over £35 billion in 2050. Estimates are not available for years after 2050.