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1078451
unstar this property registered interest false remove filter
star this property date less than 2019-02-27more like thismore than 2019-02-27
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading State Retirement Pensions more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Work and Pensions, pursuant to the Answer of 4 July 2018 to Question 160779, how many (a) men and (b) women in private sector pensions schemes were contracted-out between 1978-79 and 1987-88; and how many of those (i) men and (ii) women (A) have reached state retirement age since the introduction of the single tier pension and (B) are still to reach state retirement age. more like this
star this property tabling member constituency Falkirk remove filter
star this property tabling member printed
John McNally more like this
star this property uin 226688 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>Under the old State Pension, there was a basic State Pension, based on the number of years of employment, and an earnings-related element (additional State Pension). From 1978 until April 2016 it was possible for employees and employers to contract-out of the additional State Pension (SERPS and, from 6 April 2002, State Second Pension) on condition that the employer provided a pension of, at least, a statutory minimum.</p><p> </p><p>Prior to 1988 contracting-out was restricted to Defined Benefit schemes and there was no individual choice. Until April 2012 it was possible to contract-out by joining a Defined Contribution workplace pension scheme or a personal pension scheme which met certain conditions instead. Contracting-out for salary-related Defined Benefit schemes remained open until 5 April 2016. Contracted-out through a salary-related workplace pension scheme meant that the employee and employer paid lower National Insurance contributions and, in doing so, the employee would receive a lower (or no) additional State Pension. However, they would be receiving a workplace pension instead.</p><p> </p><p>An individual’s basic State Pension is not affected. Separate rules apply if an individual is a member of a salary-related pension scheme before 6 April 1997. These rights, known as the Guaranteed Minimum Pension, cannot be taken before age 65 (men) or 60 (women). Contracting-out finally ended on 6 April 2016, and this means that all employees now pay the same rate of NI.</p><p> </p><p>The specific information requested is not readily available and to provide it would incur disproportionate cost.</p>
star this property answering member constituency Hexham more like this
unstar this property answering member printed Guy Opperman more like this
star this property question first answered
less than 2019-03-07T11:11:00.413Zmore like thismore than 2019-03-07T11:11:00.413Z
star this property answering member
4142
unstar this property label Biography information for Guy Opperman more like this
star this property tabling member
4424
star this property label Biography information for John McNally more like this