§ Baroness Turner of Camden
asked Her Majesty's Government:
Whether they will estimate, beginning with 2001, how many of those reaching state retirement age in each of the next five years will receive (a) income from SERPS; (b) income from a public sector occupational pension scheme; (c) income from a defined benefit occupational pension scheme; (d) income from a defined contribution occupational pension scheme; (e) income from a group personal pension plan; (f) income from an Additional Voluntary Contribution (AVC); (g) income from a Free-Standing Additional Voluntary Contribution (FSAVC); (h) income from a personal pension plan; or (i) some combination of the above. [HL65]
§ The Parliamentary Under-Secretary of State, Department for Work and Pensions (Baroness Hollis of Heigham)
The estimated number of people retiring with SERPS entitlement in the next five years is given in the table below.
Number of people who will receive Additional Pension Year Thousands 2001–02 428 2002–03 453 2003–04 484 2004–05 507 2005–06 517
Detailed information is not available to estimate sources of non-SERPS income in the future. However, survey data indicates that 66 per cent of recently retired pensioners (couples or individuals) have income from occupational pensions and 73 per cent of recently retired pensioners (couples or individuals) have some income from investment income (which includes personal pensions). Many of those in receipt of income from occupational or personal pensions will also receive some SERPS income.