Tax Allowances: State Second Pension

Treasury written question – answered on 24th April 2013.

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Photo of William Bain William Bain Shadow Minister (Scotland)

To ask the Chancellor of the Exchequer

(1) if he will estimate the cost to the Exchequer of providing continuing tax relief in (a) 2013-14, (b) 2014-15, (c) 2015-16 and (d) 2016-17 for contributions made into second pension schemes of those who had already received between (i) £1 million-£1.2 million, (ii) £1.2 million-£1.4 million, (iii) £1.4 million-£1.6 million, (iv) £1.6 million-£1.8 million, (v) £1.8 million-£2 million and (vi) over £2 million of such relief in their lifetimes;

(2) what the cost was in 2012-13 of providing continuing tax relief for contributions made into second pension schemes of those who had already received between (a) £1 million-£1.2 million, (b) £1.2 million-£1.4 million, (c) £1.4 million-£1.6 million, (d) £1.6 million-£1.8 million, (e) £1.8 million-£2 million and (f) over £2 million of such relief;

(3) how many people have received total tax relief on their contributions into second pension schemes of between (a) £1 million-£1.2 million, (b) £1.2 million-£1.4 million, (c) £1.4 million-£1.6 million, (d) £1.6 million-£1.8 million, (e) £1.8 million-£2 million and (f) over £2 million to date;

(4) if he will make an estimate of how many persons will continue to receive tax relief on their contributions into second pension schemes having already been recipients of such relief over their lifetimes at levels of between (a) £1 million and £1.2 million, (b) £1.2 million and £1.4 million, (c) £1.4 million and £1.6 million, (d) £1.6 million and £1.8 million, (e) £1.8 million and £2 million and (f) over £2 million in the fiscal years (i) 2013-14, (ii) 2014-15, (iii) 2015-16 and (iv) 2016-17;

Photo of Sajid Javid Sajid Javid The Economic Secretary to the Treasury

Records are not held that enable the history of contributions made towards separate private pension schemes to be estimated over an individual's lifetime, or for the cumulative amount of tax relief thereon to be estimated. I therefore regret that the information requested with regard to relief on contributions is not available in respect of individuals with pension entitlements to a second private pension scheme in addition to their principal private scheme.

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