"My Lords, currently, individuals with a life expectancy of less than 12 months may take a serious ill health lump sum at any age, subject to medical evidence and scheme rules. This is tax-free below age 75, up to £1.073 million, after which it is taxed as income. However, while …..." Lord Livermore - View Speech
"I am very grateful to my noble friend for her question. I agree with her that the current definition for when someone with a terminal illness can access their pension savings is clearly outdated and does not align with wider legislation, including the DWP’s standard definition, so I can confirm …..." Lord Livermore - View Speech
"Yes, I agree with my noble friend, and I am grateful to him for what he says about the review. As he says, individual private pension schemes have their own requirements for terminally ill people to access their pension savings. That does mean that, too often, individuals experience too many …..." Lord Livermore - View Speech
"I am grateful to the noble Baroness for her ongoing championing of financial education. I know it is something that she feels passionately about and we have discussed it before. As she knows, financial education now forms part of the school curriculum in all UK nations. In England, financial education …..." Lord Livermore - View Speech
"I am grateful to the noble Baroness for her support for what I said. As she said, unlike a personal workplace pension, which can potentially be drawn down earlier, a state pension can be accessed only at the state pension age, and there are no current plans to change this. …..." Lord Livermore - View Speech
"Yes, I think I can; I think that is broadly along the lines of what I covered in my previous answer—that those who are nearing the end of their life should be able to get faster and easier access to certain benefits. As the noble Baroness is asking, those benefits …..." Lord Livermore - View Speech
"There is a great deal in what my noble friend says. Obviously, I cannot prejudge the outcome of the review, but the principles that he sets out for what the definition should look like sound very sensible and important. We will now review the situation because, clearly, the definition currently …..." Lord Livermore - View Speech
"I am grateful to my noble friend. He is absolutely right that the current rules are obviously intended to provide flexibility, but the downside is that the permissive nature of those rules means that individuals may experience varying hurdles to access, depending on their scheme. That does not feel right, …..." Lord Livermore - View Speech
"My Lords, on 23 June, I laid the Government’s response to the Covid Counter-Fraud Commissioner’s report before this House setting out our plan to pursue those who defrauded the state during a national emergency, to put money stolen by fraudsters back into the public services and to tighten our counter-fraud …..." Lord Livermore - View Speech
"I am very grateful to my noble friend for his question and his continued determination to see justice in this matter, which I share. Covid fraud and corruption is an appalling financial scandal that has cost UK taxpayers dearly. I thank the commissioner, Tom Hayhoe, for his tireless efforts to …..." Lord Livermore - View Speech