On Monday 11th March the Pensions Minister, Steve Webb MP, appeared before the Department for Work and Pensions Select Committee to give evidence on the State Pension reforms.
The ICBP has a longstanding relationship with Steve Webb who is leading the Government’s pension reforms. Following the submission of written evidence by affected groups such as the ICBP, the Committee called the Minister to answer questions on issues emerging from this evidence.
MPs on the Committee acknowledged the importance of the frozen pensions issue by questioning the Minister about frozen pensions.
The Committee Chair, Anne Begg MP, Graham Evans MP and Steven Lloyd all interrogated the Minister about government plans for reform of the frozen pension policy.
The Minister conceded that the rules were “pretty odd” when pressed by MPs and was unable to respond when asked to justify these inconsistencies. He stated that the new Pensions bill would continue current arrangements.
The ICBP will await the recommendations of the Committee in response to the Minister’s remarks.
Watch the Minister give evidence here at the 18:04 mark.