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Personal Accounts

Volume 470: debated on Thursday 24 January 2008

To ask the Secretary of State for Work and Pensions what estimate his Department has made of the return an individual saving in a personal account would receive with (a) a full saving record, (b) 10 years saving, (c) 20 years saving, (d) 30 years saving and (e) 40 years saving as (i) a percentage of salary and (ii) weekly cash value in retirement if they had an average salary over the period of (A) £10,000, (B) £11,000, (C) £12,000, (D) £13,000, (E) £14,000, (F) £15,000, (G) £16,000, (H) £17,000, (I) £18,000, (J) £19,000, (K) £20,000, (L) £21,000, (M) £22,000, (N) £23,000, (O) £24,000, (P) £25,000, (Q) £26,000, (R) £27,000, (S) £28,000, (T) £29,000, (U) £30,000, (V) £31,000, (W) £32,000 and (X) £33,000. (177953)

As part of its research and analysis programme over the last few years, the Department has published several analyses regarding the impacts of saving under the reformed pension system. This includes Financial incentives to save for retirement, the Pensions Bill—Impact Assessment, and the Gender Impact Assessment of Pension Reform.