§ Mr. Duncan SmithTo ask the Secretary of State for Social Security what the total annual national insurance rebate to private pensions paid from the national insurance fund has been for the last 10 years. [75847]
§ Mr. Timms[pursuant to his reply, 12 March 1999, c. 397]The information is in the table.
The cost of the national insurance contribution rebates £ billion Tax Year Rebate 1988–89 5.07 1989–90 7.68 1990–91 7.69 1991–92 8.43 1992–93 8.71 1993–94 7.78 1994–95 6.98 1995–96 7.09 1996–97 7.36 1997–98 7.58 Note:
The figures show the total rebates in respect of both occupational and personal pension schemes in GB and include:
(i) a 2 per cent. incentive paid to certain schemes on earnings accrued in tax years 1988–89 to 1992–93; and
799W(ii) a 1 per cent. age addition paid to all personal pension scheme holders aged 30 and over on earnings accrued in tax years 1993–94 to 1996–97.
Source:
Government Actuary's Department and the Contributions Agency.