Clause 11 - Reduced rate elections: effect on section 4 pensions

Part of Pensions Bill – in a Public Bill Committee at 4:30 pm on 2 July 2013.

Alert me about debates like this

Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions 4:30, 2 July 2013

We estimate that the number of women reaching state pension age in the single tier who have ever had a reduced rate election is about 80,000; we estimate that the number with a current or lapsed reduced rate election who would get less than in the current system if we did not have these measures is about 16,000. There are about 60,000-odd who once  paid a reduced rate election and have not yet retired, but who will get more. The fact that their contributions fall outside the 35-year limit means that they have had another 35 years since the reduced rate election lapsed to do something about their situation; they will also have made contributions during the years before they were married—essentially, there has been plenty of time for them to do something about their pensions.