DWP published long-term projections of pensioner benefit expenditure following the Office for Budget Responsibility’s (OBR) Fiscal Sustainability Report in July 2012. These projections have now been updated to reflect the changes to the medium-term outlook at the 2012 Autumn Statement.
This document and the accompanying tables update those projections in line with the benefit expenditure and caseload projections produced for the 2012 Autumn Statement. This enables the white paper ‘The single-tier pension: a simple foundation for saving’ and the accompanying impact assessment to be based on the most up to date economic forecasts. These projections do not include the single-tier pension.