§ Mr. AllenTo ask the Secretary of State for Social Security what is the total cost to the National Insurance Fund to date of the 2 per cent. of banded earnings offered as an incentive to opt out of SERPs expressed(a) as a cash amount and (b) as an amount per head of those who remain in SERPs.
§ Miss WiddecombeRevenue forgone by the National Insurance Fund in respect of the 2 per cent. incentive is to date just under £1,400 million. Because individuals move in and out of employment and also move between contracted in and contracted out employment or take out a personal pension during the course of a contribution year, it is not possible to determine accurately the number of individuals remaining in SERPs.