Work and Pensions written question – answered at on 17 January 2002.
To ask the Secretary of State for Work and Pensions what the value was of the state retirement pension as a percentage of the average weekly wage in (a) 1971, (b) 1978, (c) 1981, (d) 1988, (e) 1991, (f) 1998 and (g) 2001.
The objective of the basic state pension, since it was introduced in 1948, has always been to provide a foundation for income in retirement on which individuals could build their own second pension or other savings income. The Government are committed to retaining the basic state pension in this role as well as making it easier to build up second pensions, whether through private stakeholder pensions or the new state second pension (which will particularly help people on low pay or with broken work records such as carers or disabled). In addition, the Government are committed to tackling pensioner poverty directly with the minimum income guarantee and ensuring that thrift is rewarded through the pension credit.
The information requested is as follows:
Percentage | |
---|---|
September 1971 | 20.3 |
November 1978 | 23.2 |
November 1981 | 22.4 |
April 1988 | 18.8 |
April 1991 | 18.3 |
April 1998 | 16.8 |
April 2001 | (8)— |
(8) Not yet available
Note:
The percentage is based on the amount of a single person's pension
Source:
"The Abstract of Statistics for Social Security Benefits and Contributions and Indices of Prices and Earnings", 2000 edition published by the DSS, page 57.
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