Tag: Baroness Altmann

The below Parliamentary question was asked by Baroness Altmann on 2016-09-05.

To ask Her Majesty’s Government what estimate they have made of the number of women who are in hardship as a result of the decision to change women’s state pension age.

Lord Freud

The welfare system provides a safety net for those of working age and there are a range of benefits tailored to individual circumstances. The system is designed to deal with the problems which affect those most in need and takes into account difficulty in finding work, disability and caring responsibilities. No figures are available as to why claimants apply for help to the benefits system.

Independent analysis by the Institute for Fiscal Studies has shown that the rise in women’s State Pension age since 2010 has been accompanied by increases in employment rates for the women affected.

The below Parliamentary question was asked by Baroness Altmann on 2016-10-11.

To ask Her Majesty’s Government whether they intend to offer relief to unincorporated employers who are at risk of personal bankruptcy as a result of significant increases in defined benefit pension deficits in Non-Associated Multi-Employer Schemes following the rise in annuity costs associated with the falls in long-term interest rates in recent years; and if so, what relief will be made available.

Lord Freud

We have recently consulted on problems faced by non-associated multi-employer schemes (NAMES) and had representations from various interested parties. We will be responding in due course.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-05.

To ask Her Majesty’s Government how many women born in the 1950s received Automated Pension Forecasts in the years 2003 to 2006, and of those, how many were also sent the official PM6 leaflet Pensions for Women – Your Guide.

Lord Freud

The information requested is not available

The below Parliamentary question was asked by Baroness Altmann on 2016-10-11.

To ask Her Majesty’s Government what action they have taken to ensure that (1) employers, and (2) employees earning under £11,000 a year, understand the consequences of using a net pay arrangement on entitlement to tax relief.

Lord Young of Cookham

The Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This guidance covers the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.

The Government’s latest analysis of the eligibility of workers for automatic enrolment was published on 13 October 2016 in ‘Workplace Pensions: Update of analysis on Automatic Enrolment’. Information on age and earnings breakdowns for all workers can be found in table 3a on page 6, and is available in the report titled: Workplace pensions: Update of Analysis on Automatic Enrolment 2016, which is available on the gov.uk website.

The Government does not collect data on the number of workers earning less than the personal allowance who are also members of pension schemes that operate a net pay system. The Government does not hold employee level data on employees enrolled in net pay pension schemes, as such schemes are not obliged to report pension contributions to HM Revenue and Customs. The Government does not therefore hold information on the value of tax reliefs paid out to employees in net pay schemes.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-05.

To ask Her Majesty’s Government what estimate they have made of the number of men now aged between 58 and 62 inclusive who are aware that they will not receive their state pension when they reach their 65th birthday.

Lord Freud

No estimate is held on the number of men that are currently aware of the increases to State Pension age. However, all men affected by the State Pension age increase in the Pensions Act 2011 were written to between January 2012 and November 2013 using the addresses held by HMRC at the time.

The Department does not hold a specific estimate on the number of women that are aware of their state pension age. We wrote to all women affected by the Pensions Act 2011 in the age range specified between January 2012 and November 2013 using the addresses held by HMRC at the time.

In 2004, a DWP survey found that 73 per cent of people aged 45 to 54 (so aged 57 to 66 in 2016) were aware of the future increase in Women’s State Pension age. In 2006, 86 per cent of women aged 55-64 (so aged 65 to 74 in 2016) and 90 per cent aged 45-54 (so aged 55 to 64 in 2016) were aware that the State Pension age will increase in future. In 2012, a similar survey found that only 6% of respondents thought their State Pension Age was 60.

The below Parliamentary question was asked by Baroness Altmann on 2016-10-11.

To ask Her Majesty’s Government what plans they have to ensure that workers who are contributing to a workplace pension, and who earn less than £11,000 a year, are able to receive the government contribution to their pension for which they are eligible; and what action they are taking to ensure that such earners are not disadvantaged by losing out on the 25 per cent top-up to which they are entitled.

Lord Young of Cookham

The Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This guidance covers the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.

The Government’s latest analysis of the eligibility of workers for automatic enrolment was published on 13 October 2016 in ‘Workplace Pensions: Update of analysis on Automatic Enrolment’. Information on age and earnings breakdowns for all workers can be found in table 3a on page 6, and is available in the report titled: Workplace pensions: Update of Analysis on Automatic Enrolment 2016, which is available on the gov.uk website.

The Government does not collect data on the number of workers earning less than the personal allowance who are also members of pension schemes that operate a net pay system. The Government does not hold employee level data on employees enrolled in net pay pension schemes, as such schemes are not obliged to report pension contributions to HM Revenue and Customs. The Government does not therefore hold information on the value of tax reliefs paid out to employees in net pay schemes.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-05.

To ask Her Majesty’s Government what estimates they have made of the number of women now aged between 58 and 62 inclusive who are aware of their correct state pension age.

Lord Freud

No estimate is held on the number of men that are currently aware of the increases to State Pension age. However, all men affected by the State Pension age increase in the Pensions Act 2011 were written to between January 2012 and November 2013 using the addresses held by HMRC at the time.

The Department does not hold a specific estimate on the number of women that are aware of their state pension age. We wrote to all women affected by the Pensions Act 2011 in the age range specified between January 2012 and November 2013 using the addresses held by HMRC at the time.

In 2004, a DWP survey found that 73 per cent of people aged 45 to 54 (so aged 57 to 66 in 2016) were aware of the future increase in Women’s State Pension age. In 2006, 86 per cent of women aged 55-64 (so aged 65 to 74 in 2016) and 90 per cent aged 45-54 (so aged 55 to 64 in 2016) were aware that the State Pension age will increase in future. In 2012, a similar survey found that only 6% of respondents thought their State Pension Age was 60.

The below Parliamentary question was asked by Baroness Altmann on 2016-10-11.

To ask Her Majesty’s Government what plans they have to assess the number of people earning less than £11,000 a year who are auto-enrolled or paying into net pay arrangement workplace pension schemes.

Lord Young of Cookham

The Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This guidance covers the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.

The Government’s latest analysis of the eligibility of workers for automatic enrolment was published on 13 October 2016 in ‘Workplace Pensions: Update of analysis on Automatic Enrolment’. Information on age and earnings breakdowns for all workers can be found in table 3a on page 6, and is available in the report titled: Workplace pensions: Update of Analysis on Automatic Enrolment 2016, which is available on the gov.uk website.

The Government does not collect data on the number of workers earning less than the personal allowance who are also members of pension schemes that operate a net pay system. The Government does not hold employee level data on employees enrolled in net pay pension schemes, as such schemes are not obliged to report pension contributions to HM Revenue and Customs. The Government does not therefore hold information on the value of tax reliefs paid out to employees in net pay schemes.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-05.

To ask Her Majesty’s Government how many letters they have written to (1) women, and (2) men, to inform them of changes to their state pension age; of those letters sent out, how many were returned undelivered; and when letters were returned undelivered, what efforts they then made to contact those individuals.

Lord Freud

Between April 2009 and March 2011, the Department mailed all women born between 6th April 1950 and 5th April 1953, informing them of their State Pension age under the 1995 Pensions Act. This involved sending 1.16 million letters to the affected females.

Following the 2011 changes DWP wrote to all individuals directly affected to inform them of the change to their State Pension age. This applied to women born between 6th April 1953 and the 5th of April 1960 and men born between 6^th December 1953 and 5^th April 1960. These letters were sent between January 2012 and November 2013. This involved sending 5.77 million letters to the affected males and females.

We do not have the total number of letters returned undelivered over the course of all the exercises. However, I can confirm we have a robust process in place to review all incorrect address returns and properly scrutinise and update customer account details when an address is confirmed. For State Pension customers, this process includes re-establishing contact through Local Authority Social Services or a DWP Visiting Officer.

The below Parliamentary question was asked by Baroness Altmann on 2016-10-10.

To ask Her Majesty’s Government what analysis they have conducted into changes in the aggregate funding levels of UK defined benefit pension schemes over the past two years for (1) FTSE 100 companies, (2) FTSE 350 companies, and (3) small firms and charities, on (a) a technical provisions basis, and (b) a section 179 basis.

Lord Freud

The Pensions Regulator (TPR) and the Pensions Protection Fund (PPF) regularly publish information on Defined Benefit (DB) pension schemes’ funding levels. In addition, a number of other organisations also produce analysis of the impacts of DB pensions using a variety of measures. Over the past two years we have been using this information to closely monitor changes in the aggregate funding levels of UK DB pension schemes.