Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment her department has made of the potential benefits of allowing direct gifting of pensions funds to charity during a pension holder’s lifetime, in the content of the recommendations in the Final report of the Social Impact Investment Advisory Group.

This is a complex area of pensions tax policy, and any reform would require detailed assessment of its implications for the pension tax system, its administration, consumer protection, and long-term retirement outcomes. The Treasury regularly engages with departments, including HMRC, to ensure complete assessments are made.

While no decisions have been taken at this stage, we will continue to keep these recommendations under review. At present however, members can complete an "expression of wish" or nomination form to indicate their preferred beneficiaries for death benefits. While trustees typically follow these wishes, they are not legally bound to do so. This flexibility allows them to consider other evidence, such as family circumstances at the time of death or wishes expressed in a will.