Tag: Baroness Altmann

The below Parliamentary question was asked by Baroness Altmann on 2016-09-06.

To ask Her Majesty’s Government how many workers earning below the personal tax threshold were paying into net-pay pension schemes in (1) 2010–11, (2) 2011–12, (3) 2012–13, (4) 2013–14, (5) 2014–15, (6) 2015–16 and (7) 2016–17 to date.

Lord O’Neill of Gatley

The Government does not collect data on the number of workers earning less than the personal allowance who are also members of pension schemes that operate a net pay system. The Government does not hold employee level data on employees enrolled in net pay pension schemes, as such schemes are not obliged to report pension contributions to HM Revenue and Customs. The Government does not therefore hold information on the value of tax reliefs paid out to employees in net pay schemes.

However, the Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This guidance covers the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-12.

To ask Her Majesty’s Government what is their latest estimate of the total number of employers who are potentially responsible for paying Pension Act 1995 section 75 debts of previous employers who are no longer part of their non-associated multi-employer defined benefit pension scheme.

Lord Freud

The information requested is not held by Government or the Pensions Regulator.

The below Parliamentary question was asked by Baroness Altmann on 2016-10-17.

To ask Her Majesty’s Government, further to the Written Answer by Lord Freud on 15 September (HL1462), what happens to letters that are returned undelivered when incorrect details are held.

Lord Freud

Letters are issued to the latest address held on our records. Whilst the onus is on our citizens to notify appropriate Departments of their current address, DWP takes all reasonable steps to determine the correct address when letters are returned. This includes scrutinising all available DWP systems to determine if a revised address is held. At the time of the age equalisation communications campaign the process for State Pension included contact through Local Authorities or a DWP Visiting Officer. Where an updated address is confirmed the customer account details are amended.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-06.

To ask Her Majesty’s Government what estimate they have made of the number of workers who earn under £11,000 a year and are contributing to net-pay pension schemes.

Lord O’Neill of Gatley

The Government does not collect data on the number of workers earning less than the personal allowance who are also members of pension schemes that operate a net pay system. The Government does not hold employee level data on employees enrolled in net pay pension schemes, as such schemes are not obliged to report pension contributions to HM Revenue and Customs. The Government does not therefore hold information on the value of tax reliefs paid out to employees in net pay schemes.

However, the Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This guidance covers the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-12.

To ask Her Majesty’s Government what is their most recent estimate of the number of individual employers at risk of personal bankruptcy as a result of the increased costs of supporting defined benefit pension liabilities in non-associated multi-employer pension schemes.

Lord Freud

The information requested is not held by Government or the Pensions Regulator.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-06.

To ask Her Majesty’s Government what action the Department for Work and Pensions has taken to inform employers and pension scheme members of the implications for those on low pay of using a net-pay scheme rather than a relief-at-source scheme that adds the tax relief due.

Lord Freud

Pensions’ taxation is a matter for Her Majesty’s Revenue and Customs.

The noble Baroness may, however, find it helpful to note that the Pensions Regulator’s website provides comprehensive guidance for employers about their duties under workplace pensions’ legislation. This guidance covers pension scheme choice and the implications for an employer’s workforce of net-pay arrangements and relief-at-source schemes.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-12.

To ask Her Majesty’s Government what is their latest estimate of the impact of falling long-term gilt yields on the deficits of UK defined benefit pension schemes.

Lord Freud

Recent movement in gilt yields could have a material impact on the funding position of defined benefit pension schemes in the short term.

However, the precise effect on deficits will depend on a number of factors including how assets are allocated, the approach to hedging and the demographics of the scheme. We continue to monitor the position.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-06.

To ask Her Majesty’s Government what estimate they have made of the number of employers using net-pay pension schemes that are unaware that their workers who earn less than £11,000 a year are unable to receive the tax relief they could receive in a relief-at-source scheme.

Lord O’Neill of Gatley

The Government does not collect data on the number of workers earning less than the personal allowance who are also members of pension schemes that operate a net pay system. The Government does not hold employee level data on employees enrolled in net pay pension schemes, as such schemes are not obliged to report pension contributions to HM Revenue and Customs. The Government does not therefore hold information on the value of tax reliefs paid out to employees in net pay schemes.

However, the Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This guidance covers the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-12.

To ask Her Majesty’s Government what action they are taking to stop cold-callers who try to lure people into pension scams.

Baroness Shields

The Government takes the threat of pension scams very seriously. We are committed to protecting consumers from such scams, by raising awareness and pursuing scammers when these crimes occur.

The Government has established Project Bloom, a multi-department, multi-agency forum for officials to monitor trends, share intelligence on emerging threats, and help co-ordinate action to tackle scams. Members include the National Crime Agency, police forces, Pension Wise, regulators and key Government departments.

We are also taking forward a range of legislative measures to tackle nuisance calls, which will increase consumer protection and choice by strengthening the Information Commissioner’s Office (ICO) ability to take enforcement action against organisations that break the law. Recent actions include a measure in the Digital Economy Bill that will strengthen the ICO’s direct marketing guidance by giving it statutory status. We are also exploring proposals to extend the ICO’s powers of compulsory audit to more of the organisations that generate nuisance calls; and the options for enabling the ICO to hold company directors to account for breaches of the direct marketing rules.

The below Parliamentary question was asked by Baroness Altmann on 2016-09-05.

To ask Her Majesty’s Government what estimate they have made of the number of women who are in hardship as a result of the decision to change women’s state pension age.

Lord Freud

The welfare system provides a safety net for those of working age and there are a range of benefits tailored to individual circumstances. The system is designed to deal with the problems which affect those most in need and takes into account difficulty in finding work, disability and caring responsibilities. No figures are available as to why claimants apply for help to the benefits system.

Independent analysis by the Institute for Fiscal Studies has shown that the rise in women’s State Pension age since 2010 has been accompanied by increases in employment rates for the women affected.