PracticePeople In PracticeJudges and mothers alike feel pensions pinch

Judges and mothers alike feel pensions pinch

Senior judges may sue Lord Chancellor over changes to their pensions, while it is revealed many mothers and carers are not entitled to state pension

Lord Falconer, the Lord Chancellor, could be sued by a working group of
senior judges over changes to their pension rights.

New tax rules will impose a lifetime cap of £1.5m on the sum of accumulated
pension savings that qualify for tax relief. Anything above that sum will be
subject to a tax of 25%, in addition to income tax.

At the other end of the scale, it has been reported that more than two
million mothers and carers are not building up any entitlement to the basic
state pension.

The Equal Opportunities Commission has warned that the current pension system
fails to compensate people who take a break from work to care for others or look
after children.

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