State Retirement Pensions: Expenditure
The question
To ask the Secretary of State for Work and Pensions, what estimate he has made of the cost to the public purse of the State Pension by July 2029.
Answered by Torsten Bell
The Department’s latest forecasts estimate around £169 billion (in nominal terms) will be spent on the State Pension in 2029/30.
Forecasts are presented on a financial year basis, as the Department does not produce totals by a specific calendar month, such as July 2029.
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