The Lord Chancellor has confirmed recently that judges' pensions will be secure, and will not face the £1.5 million life time limit after pension simplification has been brought in.
The judicial pension scheme will be classed as unregistered from April 6th 2007, so they will avoid the lifetime limit and potential 55% recovery tax. Although this means that judges will lose tax relief on contributions towards their pensions, a long service award based on years served is being introduced that will maintain their existing pensions.
A statement from the Lord Chancellor and the Department of Constitutional Affairs has said that the proposals will not require legislation, so the controversial Judicial Pensions Bill has been dropped.
Our view
Law makers make law to suit themselves. It is totally outrageous that a Judge can be exempted from new pension limits and the rest of us have to comply.