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I refer the hon. Member to my answer to the hon. Member for West Suffolk (Matthew Hancock) on 14 November 2011, Official Report, columns 643-44W. This includes a table with an estimate of savings on unfunded public service pensions due to the decision to use the consumer prices index (CPI) as the Government's preferred measure for uprating the additional state pension and public service pensions.The indexation of guaranteed minimum pensions (GMPs) in payment depends upon individual circumstances and can be paid by either public service schemes or through the state pension, or both. HM Treasury does not have the information to calculate the savings on public service pensions expenditure that specifically relate to the GMP elements of those pensions. |