Quarter of a Million Welsh Pensioners Could Die Before Pensions Earnings Link Restored

4.59.52pm GMT Wed 29th Nov 2006

Commenting on the release of the Pensions Bill today, Jenny Willott MP said:

"This Pensions Bill will do nothing for today's pensioners who may not see the earnings link restored before 2015. One quarter of a million Welsh pensioners could die before this - that's 28,000 every year.

"Today's pensioners have been lumbered with an unfair and malfunctioning pension system for long enough. The Government must restore the pensions earning link before 2015.

"If there is to be a lasting solution we must create a decent state pension for all, one which is fairer for women and sets a decent level to encourage private saving.

"These proposals will do nothing to deal with the huge unfairness in state pensions, and will not narrow the gulf between public and private sector schemes.

"There is a risk that by building on such a poor state pension foundation the Bill will fail to achieve the ultimate goal - encouraging more people to make private savings for retirement.

"It is particularly insulting that on the same day that the Government announces that pensioners will spend another nine years falling behind average earnings, it also announces that taxpayers are funding a £1.7m pension for the Chief Executive of HMRC, the man in charge of collecting state pension contributions."