Draft Judicial Pensions (Remediable Service etc.) Regulations 2023

Valerie Vaz Excerpts

Wednesday 14th June 2023 General Committees

[Mike Freer]

For context, when the 2021 regulations came into force on 1 April 2021, they extended eligibility for a fee-paid judicial pension to 13 further judicial offices with retrospective effect. They also enabled affected judges to pay contributions into the FPJPS retrospectively for pensionable service prior to 1 April 2021 by way of deductions or a lump sum. However, as the window in which members can pay back-dated contributions via a lump sum payment has now closed, the amendment extends the period in which that lump-sum payment can be made, so that it runs to 31 March 2025, with the possibility of further extension by the administrators in individual cases.

Once the regulations come into force, we intend to run the options exercise for all members in scope as soon as possible. The options exercise will run for three months for most members; after that, members’ choices will be implemented, and pension records will be amended where necessary.

[Valerie Vaz (Walsall South) (Lab)]

The Minister is actually being quite interesting—not at all dry. Does he have an estimate of the numbers and costs? Will the costs come out of the Ministry of Justice budget?

[Mike Freer]

Off the top of my head, I cannot remember the numbers. I can say that the overall cost is about £170 million to the MOJ over the period. There are 2,500 members impacted. I hope that is helpful to the hon. Member.

In conclusion, I assure the Committee that the regulations are necessary. I apologise for the rather dry and technical nature of this issue, but the regulations are necessary to ensure that the judiciary will receive a pension remedy that is complete and equitable.