§ Mr. RedwoodTo ask the Secretary of State for Social Security what would be the additional cost in cash terms to public funds in 1996–97 in respect of pensions if the 1979 SERPS rules still applied. [37582]
§ Mr. HealdThe only changes to the SERPS rules which have come into effect since 1979 relate to the calculation of the amount deducted from gross additional pension in respect of post-April 1988 periods of contracted-out employment. It is estimated that expenditure is £60 million higher in 1996–97 as a result. The remaining changes under the Social Security Act 1986 will be implemented from April 1999 onwards and those under the Pensions Act 1995 from April 1997 onwards.