§ Mr. HendryTo ask the Chancellor of the Exchequer how many self-invested pension plans there were at the most recent available date; and what their total value was. [37713]
§ Ruth KellyInformation on the total number of self-invested personal pension plans and value of their funds is not available.
§ Lynne JonesTo ask the Chancellor of the Exchequer if he will estimate the changes in tax revenues if tax relief for pension contributions were(a) limited to the standard rate, (b) limited to the standard rate for contributions in excess of £5,000 per annum and (c) abolished for contributions in excess of (i) £5,000 per annum and (ii) £10,000 per annum. [37863]
§ Ruth KellyThe estimated full year yields from restricting income tax relief on pension contributions by employees and the self-employed in 2001–02 are detailed in the table.
£ billion Full year yield Contributions restricted to basic rate on: all contributions 1.7 contributions in excess of £5,000 0.5 All relief abolished on contributions: in excess of £5,000 1.1 in excess of £10,000 0.5 These estimates take no account of the impact on employer contributions, neither do they take account of the behavioural effects that are likely to result from such a change.