Pensions

Part of the debate – in the House of Commons at 8:43 pm on 10th February 2020.

Alert me about debates like this

Photo of Guy Opperman Guy Opperman The Parliamentary Under-Secretary of State for Work and Pensions 8:43 pm, 10th February 2020

I beg to move,

That the draft Guaranteed Minimum Pensions Increase Order 2020, which was laid before this House on 27 January, be approved.

The GMP increase order is an entirely technical matter that is attended to in this place every year. It is subject matter that is dealt with under every successive Government. The statutory instrument provides for defined-benefit or final-salary occupational pension schemes that are contracted out to increase members’ guaranteed minimum pensions that accrued between 6 April 1988 and 5 April 1997 at 1.7%, in line with the increase in the consumer prices index to September 2019. I commend this order to the House.