§ Mr. WebbTo ask the Secretary of State for Work and Pensions if he will estimate (1) the annual cost of extending entitlement to the savings credit to all those aged 60 years or over; [21104]
(2) the number of pensioners who would gain if the lower age limit for eligibility for the savings credit were reduced to 60 years. [21650]
§ Mr. McCartney[holding answer 6 December 2001]: No.
As our response to the consultation exercise "The Pension Credit— the Government's proposals" makes clear, the qualifying age for the savings credit has been set at age 65 because we are required by law to treat men and women in the same way. Age 65 is the first point at which the state pension, including the State Earnings 622W Related Pension Scheme, is available to both men and women. So this is the earliest point at which the savings reward can be paid without discrimination.