Inheritance Tax: Pensions

Lord Evans of Rainow Excerpts

Monday 17th November 2025 Lords Chamber

[Lord Livermore (Lab)]

I understand the point that the noble Lord raises. As I understand it, six months is standard within the tax system.

[Lord Evans of Rainow (Con)]

My Lords, the Minister may recall that this time last year I asked a Question about pensioners who are coming up to the time when their pensions are ready to be drawn down, and they are looking forward to the 25% tax-free lump sum. Despite the noble Lord’s reassurances, thousands of pensioners took their pension early. Can the Minister reassure pensioners waiting to draw down their pension that there will be no changes to the 25% tax-free lump sum?

[Lord Livermore (Lab)]

I remember the noble Lord’s Question last year. As he knows, I will not speculate on the next Budget now or comment on individual tax measures ahead of time.