New Clause 2
Pensions Bill
5:00 pm
James Purnell (Minister of State (Pensions Reform), Department for Work and Pensions; Stalybridge and Hyde, Labour)
As the hon. Member for Eastbourne said, we looked at two models when preparing the White Paper, which produced two slightly different results. Under Pensim 2, we came up with a figure of 27 per cent., and we got a figure of 32 per cent. under PSM—the pensions simulation model. I am sure that I shall be corrected if that turns out not to be the case.
I am sure that the hon. Member for Yeovil has read our document on projections of pension credit entitlement. It goes through a range of issues and assumptions, which, if varied, would affect the overall outcome. If he reads it, I think he will find that it makes a persuasive case that the projections are pretty robust and that changes in assumptions make relatively small differences to the overall outcome.