§ 19. Mr. Peter Atkinson
To ask the Secretary of State for Social Security what is the total sum invested in funded private pensions in the United Kingdom; and what are the equivalent figures in other EU member states. 
§ Mr. Heald
In 1993, the total value of funds in funded pension schemes in the United Kingdom was nearly £600 billion. This is substantially more than the latest estimate of £480 billion for all the other countries in the European Union.
Table B: Rebates to appropriate personal pension schemes from 1988–89 to 1993–94 £ million Amount of rebate Year Primary (Employee) Secondary (Employer) Total Cumulative total 1988–89 99 190 289 289 1989–90 587 1,116 1,703 1,992 1990–91 504 958 1,462 3,454 1991–92 600 1,139 1,739 5,193 1992–93 654 1,243 1,897 7,090 1993–94 707 1,344 2,051 9,141
1. 1993–94 is the latest year for which published audited accounts are available.
2. The table shows the cost of providing relief (rebates) from employers' national insurance contributions and for completeness, the cost of providing rebates on the employees' contribution as well as the overall total cost.
3. The figures showing the "Total" cost are taken from the published audited accounts of the national insurance fund, and show the amount of rebates paid over to providers of APPs in each of the relevant tax years up to and including 1993–94. The breakdown between the "Employee" and the "Employer" has been estimated by the Government Actuary's Department.
4. These rebates (along with any income tax relief, incentives and appropriate additions) are paid over to the pension providers in arrears following the end of the tax year in which the relevant earnings were paid.
Government Actuary's Department based on national insurance fund accounts.