§ Sir Norman FowlerTo ask the Chancellor of the Exchequer when he will announce his decision on the abolition of the carry forward/carry back tax rules relating to personal pensions; and if he will make a statement. [101382]
§ Miss Melanie JohnsonThe proposal to remove the carry forward and carry back facility forms part of the current public consultations on stakeholder pensions. We will announce our intentions when we have considered the responses to the consultation.
§ Sir Norman FowlerTo ask the Chancellor of the Exchequer what estimate he has made of the tax relief that will be saved as a result of his proposal to abolish the carry forward/carry back tax rules relating to personal pensions; and if he will make a statement. [101381]
§ Miss Melanie JohnsonThe consultation proposal to remove the carry forward and carry-back facility is intended to simplify pension administration not to raise revenue. We would not expect the removal of carry forward carry back to save tax relief.
§ Mr. WillettsTo ask the Chancellor of the Exchequer how much the Exchequer is estimated to receive as pension contributions and compensation this financial 447W year and in each of the following three years in respect of public sector employees who were mis-sold personal pensions between 1988 and 1994. [100917]
§ Mr. Andrew SmithIt is estimated that receipts of between £100 and £160 million will be received by the Exchequer this financial year, and in each of the following three years, as a result of public service employees who were mis-sold personal pensions being reinstated into public service pension schemes. The amount of receipts paid in match future liabilities. Any compensation paid into public service schemes will be matched by future benefits to pensioners.