Public Sector: Guaranteed Minimum Pensions

Treasury written question – answered on 23rd September 2022.

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Photo of Dave Doogan Dave Doogan Shadow SNP Spokesperson (Defence Procurement)

To ask the Chancellor of the Exchequer, whether his Department provided written instructions to public service pension schemes on continued payment of Pension Increase (PI) for Guaranteed Minimum Pension in circumstances where there is no monetary payment made through the State Pension between 2016 and 2019.

Photo of Chris Philp Chris Philp The Chief Secretary to the Treasury

Provisions for the indexation of Guaranteed Minimum Pensions by Public Service Pension Schemes, including for the period from 2016 to 2019, are set out in Directions made by HM Treasury under section 59A of the Social Security Pensions Act 1975. These provide for the full indexation of Guaranteed Minimum Pensions earned as part of a public service pension in circumstances where those Guaranteed Minimum Pensions are not increased through the State Pension. The latest Section 59A direction is available here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/975793/Treasury_Direction_30.03.2021_FINAL.pdf

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