Downing Street Says

» Monday, June 20, 2011

Pensions

Asked if the Prime Minister was sympathetic towards women who would have to work longer under the new pension proposals, the PMS replied that this was something that had come up in PMQs last week and the Prime Minister had made the point that all parties had supported the equalisation of the pension age between men and women.

The PMS said that we needed to raise the pension ages to make sure the pension system remained affordable, and because we were doing that, we had been able to re-link pensions back to earnings. Asked if there had been any discussion of making the transition slightly easier, the PMS replied that there was a debate in the House this afternoon. Ahead of that debate, the Pensions Secretary had put out a statement setting out the position.

Asked if there would be any concessions for women nearing pension age, the PMS referred journalists to the statement put out by the Pensions Secretary. The PMS added that we would stand by the 2018 and 2020 timetable.

Asked if the Government would stand by the timetable while looking at ways of alleviating the pain, the PMS said that everyone had agreed on the need to equalize the pension age and to ensure that our system was affordable, we needed to raise pension ages, and that’s what we were going to do.

Asked if this was a contradiction of the Coalition Agreement, the PMS said that this was something that needed to be done in order to ensure that we had a pension system that was affordable. As the Prime Minister had pointed out, as a result of making the changes, we had been able to introduce the triple guarantee on pensions, to ensure that they would be linked to earnings, prices or 2.5%, whichever was highest.

When asked about the specific line in the Coalition Agreement, the PMS said that we had to deal with the reality of the situation; we had an unaffordable pension system which required some changes.

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Pensions

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