Draft Judicial Pensions (Amendment) Regulations 2024

Kieran Mullan Excerpts

Wednesday 20th November 2024 General Committees

[Dr Kieran Mullan (Bexhill and Battle) (Con)]

It is a pleasure to serve under your chairmanship, Mr Betts. As the Minister explained, this legislation is somewhat technical, so I do not intend to add anything beyond the minimum necessary to the time that colleagues are required to be here. I know that the Prime Minister is a particular fan of pensions law and is lucky enough to have his own one, but I do not think he expects his colleagues to be equally enthusiastic about it.

As the Minister said, the Judicial Pensions (Amendment) Regulations 2024 make essential updates to our judicial pension schemes. Those changes originate from the previous Government and were always expected to garner cross-party support. The regulations are a crucial part of the ongoing reform process and are aimed at ensuring not only fairness, clarity and efficiency in the pension system for judges, but compliance with legislative and actuarial recommendations.

The regulations address several key areas in the judicial pension schemes. To reiterate, the first is the introduction of an employer cost cap, which is a critical measure required under the Public Service Pensions Act 2013. Importantly, that mechanism will trigger adjustments only in response to significant and unpredictable changes, ensuring that alterations to the pension scheme are made cautiously and only when absolutely necessary. The second is the extension of eligibility for pension benefits to additional judicial officers within the FPJPS. That ensures that judges in newly clarified or newly created judicial roles can now access pension benefits in a way that properly reflects their service. The regulations also address the complex issue of the transfer of service between different pension schemes, ensuring that judges receive their full and correct pension entitlements.

In addition, the regulations extend the deadlines for member elections within the FPJPS. The additional time provided will allow judges to make informed choices about their pension options, ensuring that no one is rushed into a decision without understanding the full implications. There are further measures, but I need not repeat them as the Minister has outlined them.

In conclusion, the regulations represent a significant step forward in the reform of judicial pensions. The judiciary plays an absolutely vital role in the functioning of our justice system, and it is imperative that we continue to support and incentivise talented individuals to join and remain in the judiciary. The regulations will ensure that our pension system remains attractive, fair and sustainable, offering security to judges in their retirement, while also protecting taxpayers. I am conscious of my pledge to be brief, so I can confirm that the Opposition support these changes. I have nothing further to add.