£10m. to be gained from pension vote

THE States will be given the option of raising another £10m. next week.

That will come during debate on Social Security's plans for funding the OAP pension pot.

The department's proposals face opposition on several fronts.

An amendment by Matt Fallaize (pictured) seeks to make proposed increases in employer contributions effective from next year, rather than staggering them as the department wants.

'I'm very pleased that Social Security have accepted the principle I was trying to put forward and come forward with proposals to increase the upper earnings limit,' said Deputy Fallaize.

'But there's no good reason to do it incrementally.'

He secured 16 votes when he attempted to raise the employers' upper earnings limit last September.

At the time, a lot of deputies said they supported the principle but did not want it to happen until Social Security had reported to the States.

Bringing in the changes from January would raise about £10.1m. in the next four years.