§ Mr. CousinsTo ask the Secretary of State for Social Security if he will publish a table showing the number of private pension plans taken out each year since 1988 with the benefit of the national insurance rebate incentive; what was the cost of the incentive rebate in each year; what were the year-end total reserves of the national insurance fund 281W beginning at 31 March 1988; how many contributors left and joined the state earnings-related pensions scheme in each year; and what was the total number of private pension plans with a rebate outstanding at the end of each year.
§ Mr. Hague[holding answer 19 July 1993]: Information is not available in the form requested. Such information as is available is in the tables.
Table 1 United Kingdom Year Numbers entering a private pension scheme1 Numbers transferring from a private pension to SERPS at year end1 2 1987–88 — 3,200 1988–89 3,428,300 25,400 1989–90 925,600 22,100 1990–91 650,200 26,400 1991–92 543,100 29,800 1 Source: 1 per cent, sample of National Insurance contribution records. 2 Figures relate to any Private Pension holder transferring to SERPS at year end, regardless of entry.
Table 2 Great Britain Year Year paid in respect of Amount of rebate (£ million) Amount of incentive (£ million) Year end NI fund reserves (£ million) 1987–88 — — — 7,288 1988–89 — — — 10,369 1989–90 1987–88 792 346 10,307 1988–89 1,074 370 — 1990–91 1989–90 1,455 506 11,792 11988–89 15 4 — 1991–92 1990–91 1,734 583 8,333 11989–90 34 10 — 1992–93 1991–92 1,849 616 3,677 11990–91 45 12 Estimated 1 And earlier. Source: Government Actuary's Department.
Note: Because of the different bases on which the estimates are based the information in Table 2 is not comparable with That in Table 1.