To ask the Chancellor of the Exchequer, pursuant to the Answer of 22 November 2024 to Question 14298 on Workplace Pensions: Inheritance Tax, whether the pension scheme established under The Pensions Increase (Pension Scheme for Keir Starmer QC) Regulations 2013 is UK registered.
Answered on
9 January 2025
The pension scheme referred to is an unregistered UK statutory defined benefit scheme, established under the Judicial Pensions and Retirement Act 1993 (JUPRA). As defined benefit schemes, pensions under JUPRA do not have a dedicated fund which can be inherited as defined contribution schemes do. Any lump sum death benefits under JUPRA received after the member is no longer in service are already subject to inheritance tax.
Answered by
Treasury
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