§ Mr. George OsborneTo ask the Chancellor of the Exchequer how many pension schemes approved by the Inland Revenue have fewer than 50 members. [176825]
§ Ruth KellyThis information is not held centrally. However, table 2.1 of the "Occupational Pension Schemes 2000—Eleventh Survey by the Government Actuary", which covered occupational pension schemes with two or more members, indicates that between 86,000 and 98,000 pension schemes approved by the Inland Revenue might have less than 50 members.
§ Mr. George OsborneTo ask the Chancellor of the Exchequer what estimate he has made of the cost to pension schemes with fewer than 50 members of his proposed requirement on those schemes to secure all pensions with annuities. [176826]
§ Ruth KellyThe cost of annuitising pension benefits for pension schemes with less than 50 members as opposed to paying benefits directly from the scheme will vary from case to case. Relevant factors will be the level to which scheme benefits are funded and the relative ages and benefit entitlements of the scheme members.