Sir Stephen Timms

I am not quite sure what change the hon. Gentleman is referring to, but I certainly agree that people need to be confident about what the arrangements will be in the future so that they can plan accordingly. That is the one of the reasons why the pensions triple lock is important, as it gives people confidence about how things will be in the future. We are: increasing the basic state pension and the new state pension in line with earnings growth by 4.1%, meeting our commitment to the triple lock; increasing the pension credit standard minimum guarantee in line with earnings growth by 4.1%; increasing benefits to meet additional disability needs and carers’ benefits in line with prices; and increasing working-age benefits in line with prices as well, at 1.7%. This year, GMPs accrued between 1988 and 1997 must by law be increased by 1.7%, which is the increase in the consumer prices index in the year up to September 2024. The GMP is important in giving people assurance about a level below which their scheme pension cannot fall. I commend both orders to the House. Question put and agreed to. Resolved, That the draft Social Security Benefits Up-rating Order 2025, which was laid before this House on 15 January, be approved. Pensions Resolved, That the draft Guaranteed Minimum Pensions Increase Order 2025, which was laid before this House on 16 January, be approved.—(Martin McCluskey.)