To ask the Secretary of State for Work and Pensions if he will set out the basis for the calculation of page 5 of the Green Paper "Simplicity, Security and Choice", that the simplification proposals in the Green Paper could save employers £150-£200 million per year. [90825]
The basis for the calculation can be found on page 129 of the green paper "Simplicity Security and Choice: Working and Saving for Retirement."
To ask the Secretary of State for Work and Pensions if he will set out the basis of the calculation given in the Green Paper on pensions "Simplicity, Security and Choice: Working and Saving for Retirement", that there has been a 40 per cent. increase in pension contributions since 1997. [90826]
The increase in pension contributions since 1997 was calculated using the estimated value of contributions to private pension schemes from the Office for National Statistics, and deflating by the Retail Prices Index (RPI).The data used for the calculation are set out in the table.
| Estimated contributions to private pension schemes1 | RPIX index(13 January 1987 equals 100.0) | Estimated contributions to private pension schemes2 | |
| 1997 | 33.1 | 157.5 | 36.4 |
| 1998 | 37.3 | 162.9 | 39.7 |
| 1999 | 42.3 | 165.4 | 44.3 |
| 2000 | 47.5 | 170.3 | 48.3 |
| 2001 | 49.93 | 173.3 | 49.93 |
| 1 £ billion, current prices. | |||
| 2 £ billion, 2001 prices. | |||
| 3 Provisional. | |||
Official Report, column 689W.
The estimates are consistent with those published in both Annexe B table 1 of the Review of Pension Contributions Statistics and the ONS Blue Book for 2002. The Review of Pension Contribution Statistics suggested that until the full implementation of the recommendations of the review, these are the best estimates for pension contributions statistics.