§ Mr. OlnerTo ask the Chancellor of the Exchequer if he will estimate the savings which would accrue in the current year from reduced expenditure on tax relief paid on contributions made to appropriate personal pensions if(a) all and (b) half of those earning under £10,000 per annum who are currently opted out of the state earnings-related pensions scheme into APPs were to rejoin SERPS. [15590]
§ Mr. Jack[holding answer 14 February 1997]: The yield from reduced expenditure on tax relief for minimum contributions from the national insurance fund to appropriate personal pensions would be about £30 million for 1996–97 if all holders of APPs with earnings of under £10,000 per annum were to rejoin SERPS, and about half that amount if half of those were to rejoin SERPS.