§ Mr. FlynnTo ask the Secretary of State for Social Security (1) what plans he has to advertise the financial benefits of opting back into the state earnings-related pension scheme for those with personal pensions;
(2) what is his estimate of the number of those holding personal pensions who would now benefit by opting back into the state earnings-related pension scheme.
§ Miss WiddecombeThe 1 per cent. additional rebate, which will be paid to appropriate personal pension holders aged 30 and over from April this year, is intended to ensure that the majority of personal pension holders continue to find it worth while to maintain their personal pensions.
Taking out and maintaining a personal pension is a matter of individual choice. The decision will be based on many factors, including age, earnings, likely future investment returns and future employment intentions. It is therefore not possible to say how many appropriate personal pension holders would benefit from returning to the state earnings-related pension scheme at any specific time.