HC Deb 05 February 1991 vol 185 cc137-8W
Mr. Allen

To ask the Secretary of State for Social Security what is his policy towards the review or abolition of the incentives for people who have already opted out of SERPS.

Miss Widdecombe

Sections 3 and 7 of the Social Security Act 1986 restrict entitlement to the 2 per cent. incentive for members of personal pensions and new occupational schemes to a period before 6 April 1993. The Secretary of State has a statutory duty to review the terms of the contracted-out rebate at intervals of not more than five years and this will be done on receipt of a report by the Government Actuary.

Mr. Allen

To ask the Secretary of State for Social Security what is his policy towards those who, having opted out of SERPS, seek to return to SERPS when the incentives to opt out end.

Miss Widdecombe

There are no restrictions on an individual who is a member of an occupational or personal pension scheme rejoining SERPS at any time.

Mr. Allen

To ask the Secretary of State for Social Security what is the latest estimate of the cost to the taxpayer of the opting out from SERPS.

Miss Widdecombe

I refer the hon. Member to my reply to him on 20 December 1990 at column316.