1-11 of 11 results for subject:Inflation
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To ask His Majesty's Government what progress they have made in (1) meeting, and (2) addressing the problems facing, the AEA Technology pension scheme members who have lost their final salary inflation uplifts and part of their pensions.
To ask His Majesty's Government what progress they have made in (1) meeting, and (2) addressing the problems facing, the AEA Technology pension scheme members who have lost their final salary inflation uplifts and part of their pensions.
Minister for Pensions met with Viscount Thurso on 15 June to discuss AEA Technology as per the commitment made during the passage of the Pensions Schemes Act 2026.
We recognise the very real challenges that AEAT pension scheme members have faced given the insolvency of their employer and their entry into the Pension Protection Fund.
The Pension Schemes Act 2026 provides for annual increases on compensation payments from the Pension Protection Fund that relate to pensions built up before 6 April 1997, where schemes provided for this.
AEA Technology pension scheme members with pre-97 accrual will benefit from this change.
To ask His Majesty's Government what estimate they have made of the cost of compensation for the loss of inflation protection for benefits accrued before 1997 for past members of the AEA Technology pension scheme who were transferred out of the public sector scheme in 1996.
To ask His Majesty's Government what estimate they have made of the cost of compensation for the loss of inflation protection for benefits accrued before 1997 for past members of the AEA Technology pension scheme who were transferred out of the public sector scheme in 1996.
We recognise the challenges members of the AEA Technology pension scheme face and are directly tackling the point you raise about the loss of inflation protection. The Chancellor announced at the Budget that this Government will introduce annual increases on compensation payments from the Pension Protection Fund and Financial Assistance Scheme that relate to pensions built up before 6 April 1997. These will be Consumer Prices Index-linked (capped at 2.5%) and apply prospectively (i.e. to payments going forward) for members whose former schemes provided for these increases.
I am pleased to confirm that past members of the AEA Technology pension scheme with pre-97 accrual will benefit from this measure.
To ask His Majesty's Government, further to the Written Answer by Baroness Lister of Burtersett on 3 April (HL6131), what is their estimate of the total cash amount of the Universal Credit standard allowance in 2029-30, both with and without the above-inflation increases listed.
To ask His Majesty's Government, further to the Written Answer by Baroness Lister of Burtersett on 3 April (HL6131), what is their estimate of the total cash amount of the Universal Credit standard allowance in 2029-30, both with and without the above-inflation increases listed.
The estimated cash amounts of the standard allowance in 2029-30 are presented in the table below. These cash amounts are minimum estimates based on Spring Statement 2025 Consumer Price Index forecasts and are subject to change with new forecasts.
The figures should therefore be treated with caution.
Estimated Monthly Standard Allowance in 2029-30 | ||
Rate | Inflation uprating only | Minimum Amounts with Above-inflation uprating |
Single under 25 | £348 | £365 |
Single 25 plus | £439 | £461 |
Couple under 25 | £546 | £573 |
Couple 25 plus | £690 | £723 |
Notes:
Amounts are rounded to the nearest £
To ask His Majesty's Government, further to the remarks by Baroness Sherlock on 18 March (HL Deb col 1203), whether the above-inflation increase in the standard rate of Universal Credit by the end of this Parliament represents an above-inflation increase in any year other than 2026–27.
To ask His Majesty's Government, further to the remarks by Baroness Sherlock on 18 March (HL Deb col 1203), whether the above-inflation increase in the standard rate of Universal Credit by the end of this Parliament represents an above-inflation increase in any year other than 2026–27.
The announced increase in the standard allowance will see an above inflation increase in every year from 2026/27 to the end of Parliament.
The proposed increases are inflation (measured by CPI), plus: 2.3% in 2026/27, 3.1% in 2027/28, 4.0% in 2028/29 and 4.8% in 2029/30.
As such, in each year, the rates will be what they would have been under CPI uprating and then increased by the relevant percentage figure.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
Lords second reading. Agreed to on question. Bill committed to a Committee of the Whole House.
Lords second reading. Agreed to on question. Bill committed to a Committee of the Whole House.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.
Lords motion to consider. Agreed to on question.