How much would a person have to save under Auto-enrolment to make up loss off state pension under the new stae pension compared to the original pension system.

Department for Work and Pensions did not have the information requested.

Dear Department for Work and Pensions,

Can you tell me if when planning the new state pension that started on 6 April; 2016 and you decided to reduce the maximum state pension a person would receive ,if you did an impact assessment to see roughly how much a young person just starting out in work would have to save to make up the difference in pension they would receive comparing the new state pension compared to using the above.

In July 2013 The institute of Fiscal Studies did a report " A Single-Tier Pension: What Does It Really Mean?"

In page 50 they mentioned the following "The relative advantage of the current system is also greater for those expecting to contribute for more than 35 years. The maximum amount of state pension income that someone in this cohort could receive under the proposed system is £146.30 per week. This compares with a maximum of £213.60 per week under the current rules for a high earner and £189.04 per week for a low earner (both with 49 years of contributions)."
In their example they used £146,30 pw as the proposed new state pension and £213,60 per week under the current system for a high earner.

As the difference is roughly £67 pw can you tell me if you calculated roughly how much a person would need in their pension pot to replace the loss of £67 pw if they were in the Auto- enrolment and also how much they would need if the lost pension of £67 pw was uprated to take into account inflation..

Yours faithfully,

C. Thompson

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DWP Strategy Freedom of Information, Department for Work and Pensions

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Dear DWP Strategy Freedom of Information,
Can you please tell me when I can expect a reply as your reply is now over due.

Yours sincerely,

C. Thompson

DWP Strategy Freedom of Information, Department for Work and Pensions

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Please see the attached reply to your Freedom of Information request

Yours sincerely

DWP Strategy FoI team

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Dear DWP Strategy Freedom of Information,

You did not answer my question about how much a person would have to save under auto- enrolement to make up the lost state pension under the new state pension. I was not asking you if the old state pension system was sustainable or not in the long term.

I am repeating the question. can you tell me if you did an impact assessment to find out how much a person would have to save under auto-enrolement to replace a reduction in state pension of say £67 per week assuming no cost of living increases and also with cost of living increases.

A simple yes or no and to if you did an impact assesment. If yes please let me have a copy of the impact assessment.

Yours sincerely,

C. Thompson

Dear Department for Work and Pensions,

Please pass this on to the person who conducts Freedom of Information reviews.

I am writing to request an internal review of Department for Work and Pensions's handling of my FOI request 'How much would a person have to save under Auto-enrolment to make up loss off state pension under the new stae pension compared to the original pension system.'.

The reason I am asking for a review is that a reply is now long overdue

A full history of my FOI request and all correspondence is available on the Internet at this address: https://www.whatdotheyknow.com/request/h...

Yours faithfully,

C. Thompson

DWP freedom-of-information-requests, Department for Work and Pensions

This is an automated confirmation that your request for information has
been accepted by the DWP FoI mailbox.
 
By the next working day your request will be forwarded to the relevant
information owner within the Department who will respond to you direct. 
 
If your email is a Freedom of Information request you can normally
expect a response within 20 working days.
 
Should you have any further queries in connection with this request do
please contact us.
 
For further information on the Freedom of Information Act within DWP
please click on the link below.
 
[1]http://www.dwp.gov.uk/freedom-of-informa...
 

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DWP Strategy Freedom of Information, Department for Work and Pensions

Thank you for your Freedom of Information review request.

Please note that it is our internal target to answer reviews within 20 working days unless I need to come back to you to clarify your request, or the balance of the public interest test needs to be considered which we will keep you informed about.

If you have any queries about this letter please contact me quoting the reference number above.

Yours sincerely

DWP Strategy FoI Team

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Your right to complain under the Freedom of Information Act

If you are not happy with this response you may request an internal review by e-mailing [DWP request email] or by writing to DWP, Central FoI Team,
Caxton House, Tothill Street, SW1H 9NA. Any review request should be submitted within two months of the date of this letter. Please remember to quote the reference number above in any future communications.

If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF
www.ico.org.uk/Global/contact_us or telephone 0303 123 1113 or 01625 545745

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DWP Strategy Freedom of Information, Department for Work and Pensions

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Please accept our apologies for the delay and see the attached reply to your Freedom of Information request.
 

Yours sincerely

DWP Strategy FoI team

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DWP Strategy Freedom of Information, Department for Work and Pensions

1 Attachment

Please see the attached reply to your Freedom of Information request.

Yours sincerely

DWP Strategy FoI team

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