§ Mr. Sternasked the Chancellor of the Exchequer what is the maximum annual amount of an occupational pension which the Inland Revenue will currently permit to be commuted for a cash sum in full settlement of the pension; and whether he has any plans to permit an increase in this annual amount.
§ Mr. MooreWhere the total pension entitlement is no more than £104 per annum the trustees of a scheme may commute it in full to avoid the disproportionate administrative costs of paying the pension. I have no plans to make any change.