Pensions

Part of the debate – in the House of Commons at 5:30 pm on 4 June 2003.

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Photo of Maria Eagle Maria Eagle The Parliamentary Under-Secretary of State for Work and Pensions 5:30, 4 June 2003

I am coming to the close of my speech.

The hon. Gentleman's policy of abolishing the state second pension would disadvantage today's working women who are carers or in low-paid jobs, who have broken work records or who are disabled. Currently, they are accruing a better second-tier unfunded state pension than SERPS ever offered them. His policy document admits that the state second pension is redistributive. His answer? Abolish it. I am forced to conclude that his rhetoric about helping women is hollow, because his policy prescriptions would do the opposite.

Only the Labour party is committed to tackling pensioner poverty and ensuring the long-term future of occupational pension provision in this country by carrying forward the necessary reforms, building on what is good in our system. I commend the amendment to the House.