§ Mr. CousinsTo ask the Secretary of State for Social Security if he will set out the national insurance rebate incentives for(a) providers and (b) policyholders taking out stakeholder pension products from April 2001. [143877]
§ Mr. RookerRebates are intended to provide an amount that reflects the cost of providing the State benefits forgone when an employee contracts out of SERPS into an occupational or personal pensions. They are not designed to favour any particular method of contracting-out. The rates of rebates that will apply to stakeholder pensions and other forms of contracting-out for the April 2001–02 financial year are set out in the Orders referred to in my written answer to the hon. Member for Newbury (Mr. Rendel) on 11 December 2000,Official Report, column 48W.