Written question asked by Gregory Campbell (Democratic Unionist Party) on Monday, 13 March 2017, in the House of Commons. It was due for an answer on Thursday, 16 March 2017 (named day). It was answered by Jane Ellison (Conservative) on Thursday, 16 March 2017 on behalf of the Treasury.
Pensions: Tax Yields
- Question
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To ask Mr Chancellor of the Exchequer, how much tax revenue has been generated from people encashing their pension entitlement since 2015.
- Answer
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From April 2015, individuals aged 55 or over have had the option to flexibly access their pension.
The latest estimate of the tax revenue from the introduction of pensions flexibility was set out in the Office for Budget Responsibility’s Economic and Fiscal Outlook in March 2017[1]. This stated, in paragraph A.23, that £1.5 billion of tax revenue was received from pension flexibility in 2015-16, and £1.1 billion is forecast to be received in 2016-17.
[1] http://cdn.budgetresponsibility.org.uk/March2017EFO-231.pdf
Secondary information
- Type
- Written question
- Reference
- 67613
- Session
- 2016-17
- Subjects
- Pensions Tax yields
- Contains statistics
- Yes
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2017-03-16 11:34:36 +0000
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- http://data.parliament.uk/writtenparliamentaryquestion/commons/2016-17/67613
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