To ask the Chancellor of the Exchequer how much money has(a) been recouped from pension funds and (b) returned to the employers in each of the last 10 years.
§ Mr. Maude
[holding answer 14 November 1990]: Information is not available in the form requested. The table below gives information derived from pension funds reports to the Inland Revenue on action which they propose to take to remove surpluses, following the provisions of the Finance Act 1986.
£ million Schemes reporting in Refunds to employers Tax due on refund 1987–88 91 37 1988–89 224 90 1989–90 423 169
Note: The amounts shown represent figures for schemes reporting to the Inland Revenue in each year where proposals have been agreed by the superannuation funds office. The tax may not yet have been paid if the proposals have not yet been implemented.