Restoration of the Value of the State Pension

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2004 Retired Members' Conference
14 June 2004

The pension credits scheme was introduced in October 2003 but many pensioners have still not applied for this means-tested benefit. John Denham, Labour MP for Southampton Itchen, has confirmed that the surplus in the national insurance fund this year amounts to £30 billion. The government actuary has ruled that £5 billion has to be retained to cover next year’s spending. There is a surplus of £25 billion which can be used.

Conference instructs UNISON National Retired Members’ Committee, and calls on the National Executive Council, to liaise with the National Pensioners’ Convention to campaign strongly for the use of this surplus for an immediate substantial increase in the state pension and the restoration of the link to average earnings in future increases.