§ Mr. DenhamTo ask the Secretary of State for Social Security how many individuals currently(a) contribute towards a state earnings-related pension, (b) do not pay SERPS because they are in an occupational scheme, and (c) do not pay SERPS because they are in a personal pension scheme.
§ Mr. HagueDuring 1990–91, the latest year for which information is available, employed earners paid national insurance contributions as follows:
Great Britain millions (i) At the standard not contracted out rate 11.6 (ii) At the contracted out rate because of membership of an occupational pension scheme 8.2 (iii) A mixture of both (i) and (ii) above 1.4 (iv) At the standard not contracted out rate (included in (i) and (iii)) but subsequently had a rebate of contributions paid into an appropriate personal pension 4.1 Source: 1 per cent. sample of national insurance contribution records.
§ Mr. DenhamTo ask the Secretary of State for Social Security (1) how many members of personal pension schemes who have opted out of the state earnings-related pension scheme he expects to opt back into SERPS over the next five years;
(2) how many members of personal pension schemes who opted out of the state earnings-related pension scheme have opted back into SERPS.
§ Mr. HagueIt is not possible to estimate the numbers of people likely to opt back into the state earnings-related pension scheme (SERPS), since the decision as to whether or not to opt back depends on an individual's particular circumstances.
We estimate that some 76,500 United Kingdom personal pension holders had rejoined SERPS by the end of 1990–91, the latest year for which figures are available. This estimate is based on a 1 per cent. sample of national insurance contributors and may include people who have left and rejoined SERPS more than once.
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