§ Mr. MacleanTo ask the Chancellor of the Exchequer what is the average annual contribution made to personal pension plans by(a) standard rate and (b) higher rate taxpayers. [70695]
§ Ms Hewitt[holding answer 15 February 1999]: The information is in the table.
425W
£ Average contribution to personal pension schemes in 1996–97 Basic rate taxpayers 900 Higher rate taxpayers 4,200 Notes:
1. Estimates are based on the Survey of Personal Incomes for 1996–97 and other survey and administrative information.
2. Includes contributions to retirement annuity contracts, but excludes free-standing additional voluntary contributions, "minimum contributions" by DSS to appropriate personal pension schemes and contributions made by employers.
3. Covers contributions made by employees and the self-employed.
4. Includes basic rate tax repaid to scheme administrators in respect of contributions made by employees to personal pensions under net contribution arrangements.
5. Figures are rounded to the nearest £100.