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State Pension

Part of Oral Answers to Questions — Work and Pensions – in the House of Commons at 2:30 pm on 25th June 2012.

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Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions 2:30 pm, 25th June 2012

I can reassure the right hon. Gentleman that the next generation of pensioners will be well looked after and specifically that the starting point for our calculation will be what people have in the bank—that is to say, rights already accrued—and specifically, therefore, if people are heading for a pension of more than £140 at the point we change it and have got that in the bank, it will be respected.