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State Retirement Pensions

Work and Pensions written question – answered on 25th February 2013.

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Photo of Gregg McClymont Gregg McClymont Shadow Minister (Work and Pensions)

To ask the Secretary of State for Work and Pensions

(1) what estimate his Department has made of the value of the single-tier state pension if it was uprated by (a) earnings, (b) the consumer prices index and (c) 2.5 per cent before implementation in 2017;

(2) if he will estimate the equivalent value of the single-tier state pension in 2017 if it were to be uprated before that date by (a) earnings, (b) consumer prices index and (c) 2.5 per cent.

Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions

The single-tier pension will be implemented in April 2017 at the earliest, and will be set above the basic level of means-tested support, the pension credit standard minimum guarantee. The final level of the single-tier pension will be set closer to implementation, taking into account the cost implications and the fiscal context at the time.

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