HC Deb 17 March 2003 vol 401 cc543-4W
Mr. Heald

To ask the Chancellor of the Exchequer if he will list the public sector pension schemes which are funded; when was the last actuarial valuation of each scheme; what the value was of the assets at the last actuarial valuation of each scheme; and what deficit is disclosed by the last actuarial valuation of each scheme. [103346]

Mr. Boateng

Of the major public service schemes, only the Local Government Pension Scheme is funded. That scheme is the responsibility of the Office of the Deputy Prime Minister.

Letter to David Willetts from Len Cook, dated 17 March 2003: As National Statistician I have been asked to reply to your recent question asking for the average annual gross and net household income for each quintile of the income distribution since 1996. (102986) Estimates for 1996–97 to 2000–01 are shown in the following tables. They are based on the analysis "The effects of taxes and benefits on household income 2000–01", published on the National Statistics (ONS) website on April 19th 2002 and in Economic Trends for May 2002. The analysis and those for earlier years can be obtained from the House of Commons library. They include measures of income inequality for the United Kingdom as a whole based on data from the Family Expenditure Survey. Estimates are given for all households in the United Kingdom and split by quintile groups ranked by disposable household income. Gross income includes income from employment, investment and cash benefits. Net disposable income is obtained by deducting income tax and national insurance contributions and local taxes. Local taxes include council tax, domestic rates, water and sewerage charges and are net of discounts, benefits and rebates.

In addition some of the small public service schemes are funded. In the wider public sector, corporations such as the BBC and the Post Office have their own funded schemes. Responsibility for the se schemes rests with the relevant sponsoring department.

Detailed information on the valuations of funded public sector pension schemes is not held centrally.

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