§ Mr. PikeTo ask the Secretary of State for Social Security if his proposals to provide all national insurance contributors with annual pension forecasts is on target; and if he will make a statement. [123289]
§ Mr. RookerThe first combined pension forecasts, which include details of both state and private pension rights, were issued to Prudential customers in April as part of a series of pilots. Other pilot employers and pension providers will issue combined forecasts later this year. We are on course to meet or exceed our target to start the full-scale service from 2002.
We are committed to providing better pensions information. Combined pension forecasts will, for the first time, provide individuals with a clear indication of what sort of retirement income to expect. This will enable them to make better-informed decisions on what savings they need to make.