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Occupational Pensions

Volume 229: debated on Friday 23 July 1993

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To ask the Secretary of State for Social Security what is the average sum now paid out annually in occupational pensions for (a) males and (b) females.

The average amounts of occupational pension paid in 1990–91 are estimated as £4,200 per annum for males and £2,015 for females at January 1991 prices.

Note: Source: 1990 and 1991 Family Expenditure Surveys.

To ask the Secretary of State for Social Security what is his estimate of the number of people who have opted out of the state earnings-related pension scheme into personal pensions and have now allowed those pensions to lapse.

Personal pensions used for opting out of SERPS do not lapse. Membership continues until cancelled either by the individual concerned or by the trustees or managers of the scheme.