§ Mr. CorbynTo ask the Secretary of State for Social Security if he will publish all submissions to the Pensions Review; and when he expects to make a statement on future pensions policy. [27433]
§ Mr. DenhamThe Pensions Review is looking at the central areas of insecurity for elderly people. A key objective of the review is to ensure that pensioners should have an adequate pension in retirement; that they should share fairly in rising prosperity; and that public finances should be both sustainable and affordable.
The first part of the Review ended on 31 October. Over 2,000 responses were received and we are carefully considering them. I have no plans to publish the 705W submissions to the Review. A number of responses were submitted on a confidential basis and it is a matter for the respondents—pensions providers, employers, employees, consumers, pensions experts and pensioners—whether to make their responses public. An up-to-date list of organisations which responded has been placed in the Library.
The technical consultation on our proposals for Stakeholder Pensions ended last week. To date, 175 responses have been received. The outcome of the consultation exercise will be reflected in proposals which will be published alongside the Government's response to the wider review in the first half of this year.
§ Mr. CorbynTo ask the Secretary of State for Social Security what is her estimate of the average proportion of income of people in work per quartile of income spent on(a) national insurance, (b) occupational pensions, (c) SERPS and (d) individual private pensions. [26861]
§ Mr. DenhamThe information is not available in the format requested. Such information as is available is set out in the table.
Percentage of earnings spent on National Insurance and Occupational Pensions Quartile 1 Quartile 2 Quartile 3 Quartile 4 National Insurance 3.2 6.9 7.5 6.5 Occupational Pensions 0.7 1.5 2.4 3.6 Notes:
1. The figures are based on information from the 1995–96 Family Resources Survey (FRS). The 1995–96 survey is the latest for which data are available.
2. The estimates are based on sample counts which have been adjusted for non-response using multi-purpose grossing factors which control for region, Council Tax Band and a number of demographic variables. Estimates are subject to sampling error and to variability in non response.
3. Estimates are based on the distribution of gross earnings of all individual employees with non-zero earnings (not including the self-employed).
4. Proportion of earnings spent on occupational pensions includes contributions (including additional voluntary contributions) made by individuals, but does not include any contribution to occupational pensions made by the employer.
5. The figures for National Insurance are net of any contracted-out rebates. The figures for occupational pensions are the amounts the employee actually pays.