§ 41. Mr. BrightTo ask the Secretary of State for Social Security what incentives are being provided for people to take out personal pensions.
§ Mr. Peter LloydThe Department will pay for people who take out personal pensions "minimum contributions", which are made up of a partial rebate of national insurance contributions and, until April 1993, a special incentive payment. In most cases the payments by the Department will include tax relief on the employee's share of the minimum contribution. People taking out a personal pension before 6 April 1989 will be able to backdate membership to 6 April 1987 and claim an extra year's minimum contributions, including the incentive.