§ Mr. WebbTo ask the Chancellor of the Exchequer what would be the yield for allowing income tax relief only on pension contributions up to a ceiling of(a) £4,000 per annum, (b) £6,000 per annum, (c) £8,000 per annum and (d) £10,000 per annum. [44627]
§ Dawn Primarolo[holding answer 8 June 1998]The distribution of tax relief by level of contribution of participants in occupational and personal pension schemes is not available.
§ Mr. WebbTo ask the Chancellor of the Exchequer what would be the cost to the Exchequer of giving tax relief on that part of employee and employer national insurance contributions which are treated as contributions to SERPS and which are not payable by those who have contracted out of SERPS. [44628]
§ Dawn Primarolo[holding answer 8 June 1998]The cost of income tax relief at the basic rate for the employee part of the age-related national insurance rebate if all those currently in SERPS contracted out into appropriate personal pensions is tentatively estimated at around £300 million each year at 1998–99 levels of earnings. Extending basic rate relief to the employer part of the national insurance rebate would cost approximately an additional £850 million.