§ Barbara FollettTo ask the Chancellor of the Exchequer what plans he has to simplify the administration of the tax rules applying to occupational pension schemes; and if he will make a statement. [154423]
§ Miss Melanie JohnsonAn Inland Revenue sponsored team will be reviewing the tax approval arrangements applying to defined benefit pension schemes with the aim of developing a package of practical options for administrative simplification. The team will not be considering options for changing the underlying tax or benefit structures. The team will consist of Inland Revenue officials and secondees from the pensions industry. The review is due to be completed by February 2003.