{"value":{"id":1757524,"askingMemberId":5361,"askingMember":null,"house":"Commons","memberHasInterest":false,"dateTabled":"2025-01-21T00:00:00","dateForAnswer":"2025-01-23T00:00:00","uin":"25629","questionText":"To ask the Secretary of State for Work and Pensions, what assessment she has made of trends in the level of people receiving an adequate pension since 2019.","answeringBodyId":29,"answeringBodyName":"Department for Work and Pensions","isWithdrawn":false,"isNamedDay":false,"groupedQuestions":[],"answerIsHolding":false,"answerIsCorrection":false,"answeringMemberId":5069,"answeringMember":null,"correctingMemberId":null,"correctingMember":null,"dateAnswered":"2025-01-29T00:00:00","answerText":"<p>There are many ways of measuring of adequacy, such as Target Replacement Rates (TRR) or using minimum income standards such as the PLSA Retirement Living Standards.</p><p> </p><p>DWP's latest estimates of undersaving for retirement showed around 4-in-10 working-age individuals were undersaving for retirement according to TRR levels and 1-in-10 working-age individuals were undersaving for retirement as measured by PLSA Minimum Retirement Living Standards. This is published here: <a href=\"https://www.gov.uk/government/statistics/analysis-of-future-pension-incomes/analysis-of-future-pension-incomes\" target=\"_blank\">Analysis of future pension incomes - GOV.UK</a>.</p><p> </p><p>Current pensioners have seen gross incomes increase over the last 10 years in real terms (a 4% increase from 2012/13 to 2022/23). This is available in <a href=\"https://www.gov.uk/government/statistics/pensioners-incomes-financial-years-ending-1995-to-2023\" target=\"_blank\">Pensioners' Incomes: financial years ending 1995 to 2023 - GOV.UK</a>. These statistics are published annually.</p>","originalAnswerText":"","comparableAnswerText":"","dateAnswerCorrected":null,"dateHoldingAnswer":null,"attachmentCount":0,"heading":"Pensions","attachments":[],"groupedQuestionsDates":[]},"links":[{"rel":"self","href":"/Questions/1757524","method":"GET"}]}