HC Deb 18 December 1996 vol 287 cc763-4W
Mr. Luff

To ask the Secretary of State for Social Security if he will list the proposed(a) rates of the general pensions levy and (b) maximum amounts of the pensions compensation levy payable in respect of occupational and personal pension schemes from April 1997. [10462]

Mr. Heald

The proposed rates of the general pensions levy are set out in the table. The proposed statutory maximum of the pensions compensation levy will be £0.23 for each scheme member. The general levy rates and the maximum compensation levy will be specified in the Occupational and Personal Pension Schemes (Levy) Regulations 1997 which we intend to lay before the House by March 1997.

General levy
Proposed rate
For occupational pension schemes with up to 11 members £8.75 per scheme
For occupational pension schemes with 12 to 99 members £1.05 per member
For occupational pension schemes with 100 to 999 member £0.75 per member, subject to a minimum of £105.00 per scheme
For occupational pension schemes with 1,000 to 4,999 members £0.60 per member, subject to a minimum of £730.00 per scheme
For occupational pension schemes with 5,000 to 9,999 members £0.45 per member, subject to a minimum of £3,000.00 per scheme
For occupational pension schemes with 10,000 or more £0.30 per member, subject to a minimum of £4,500.00 per

General levy
Proposed rate
members scheme
For personal pension schemes with up to 11 members £3.60 per scheme
For personal pension schemes with 12 to 99 members £0.30 per member
For personal pension schemes with 100 to 999 members £0.21 per member, subject to a minimum of £30.00 per scheme
For personal pension schemes with 1,000 to 4,999 members £0.17 per member, subject to a minimum of £210.00 per scheme
For personal pension schemes with 5,000 to 9,999 members £0.12 per member, subject to a minimum of £850.00 per scheme
For personal pension schemes with 10,000 or more members £0.08 per member, subject to a minimum of £1,200.00 per scheme