HC Deb 01 February 1993 vol 218 c42W
Mr. Frank Field

To ask the Chancellor of the Exchequer (1) what was the tax yield from taxes imposed on surpluses in pension funds in excess of 105 per cent. of their liability in each year since the tax was introduced;

(2) if he will publish a table showing for the latest year the numbers of pension schemes proposing a contribution holiday to reduce a pension fund surplus in accordance with the Finance Act 1986;

(3) what information he has concerning the extent of occupational pension scheme contribution holidays being taken by employers or employees.

Mr. Dorrell

Statutory rules for dealing with actuarial surpluses in occupational pension schemes were introduced in the Finance Act 1986 and took effect from 6 April 1987.

Estimates of tax deducted from payments of surplus funds to employers for 1987–88 to 1991–92 are shown in table 6.9 of "Inland Revenue Statistics 1992". The provisional estimate for 1992–93 is £135 million.

Available information on occupational scheme contribution holidays is shown in table 6.8 of "Inland Revenue Statistics 1992".

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