Workplace Pensions: Inflation
The question
To ask the Secretary of State for Work and Pensions, what information her Department holds on the number of retirees affected by the lack of statutory inflation protection for pre-1997 defined benefit pensions.
Answered by Emma Reynolds
Analysis carried out by the Pensions Regulator estimates that, as of 31 March 2023, 23 per cent of private-sector occupational Defined Benefit (DB) pension schemes have no indexation applied to pre-1997 benefits. However, this is in addition to any Guaranteed Minimum Pension rights accrued between 1988 and 1997, which must be indexed by the scheme.
This information is published and available at: Data requests | The Pensions Regulator
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →