§ Mr. DenhamTo ask the Secretary of State for Social Security what would be the cost to the national insurance fund of all current holders of an appropriate personal pension with an annual income of(a) £2,000 or below (b) up to £3,000, (c) up to £4,000, (d) up to £5,000, (e) up to £6,000, (f) up to £7,000, (g) up to £8,000, (h) up to £9,000 and (i) up to £10,000 opting back into state earnings-related pensions.
§ Mr. Arbuthnot[holding answer 25 January 1995]: Information is not available in the form requested. Any
Extra SERPS expenditure in selected years if APP holder in low earnings bands opt back into SERPS for one year. £ million 1994–95 prices APP holders with earnings under (£per annum) 2010–11 2020–21 2030–31 2040–41 2050–51 2,000 — — — — — 3,000 0 0 0 0 0 4,000 0 0 1 1 0 5,000 0 1 2 2 1 6,000 0 2 4 5 3 7,000 1 3 10 10 5 8,000 1 5 15 15 10 9,000 2 10 25 25 15 10,000 2 10 30 35 20 Notes:
1. Little extra cost until 2010 as most APP holders are under age 45.
2. Estimates of numbers affected based on data for 1992–93, the most recently available, used to estimate proportions of APP holders in respect of people in the earnings bands quoted.
3. Earnings under £2,000 would not accrue SERPS so no financial effect in respect of that year.
4. Earnings have been used, as a breakdown by income is not available.
5. The year in which opting back into SERPS is assumed to take place is 1994–95.