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Pension Schemes Bill [Lords]

Part of the debate – in the House of Commons at 8:55 pm on 30th January 2017.

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Photo of Thomas Tugendhat Thomas Tugendhat Conservative, Tonbridge and Malling 8:55 pm, 30th January 2017

I am pleased that my right hon. Friend has come to the section about charges. He will know of the transparency campaign I have been pushing. I am extremely grateful for the efforts that he and the Under-Secretary of State for Pensions, who is sitting to the left of the Secretary of State, have made in introducing more openness into pensions schemes. I should be grateful to hear more on how he will approach that.

Annotations

George Morley
Posted on 2 Feb 2017 2:03 am (Report this annotation)

I am making this annotation in response to your comment above which included the words " more openness into pensions schemes. "
Should you have the time to read the annotations placed against many members comments here, you will see that my problem is shared with about 560,000 pensioners living mainly in the Commonwealth countries where the Government see fit to deny us our rightful entitlement of the annual pension uprating because of our country of residence.
I am living in Canada and retired in 1999 only to find that my wife and I would get no pension indexation ever from then on.
This is not just unfair but discriminative and immoral when other pensioners abroad (660,000) do get the indexation in the same way as if they were still resident in the UK.
We represent just 4% of all pensioners - the other 96% get treated equally and fairly.
Our Frozen pensions are imposed by section 20 of the Pensions Act which uses an argument that a reciprocal agreement is required when it is purely a domestic pension issue and not requiring any such agreement to allow the uprating which was agreed by the DWP in answer to a Freedom of Information request.
This is a DWP/Treasury policy which they argue is for saving money that they cannot afford (580 million) - about 1/25th of the amount spent in Overseas Aid which they defend with a passion but their pensioners can drift into poverty in old age. We get about half of our entitlement now and some have been forced to return to the UK as a result.