This year I was fortunate to come third in the ballot for a Private Members’ Bill (PMB). PMBs are introduced by MPs and Peers who are not government ministers, providing Members with an opportunity to apply further legislation to protect, remedy, or support issues of concern to their constituents. With this in mind, and following great consideration, I presented the Pensions (Special Rules for End of Life) Bill to the House of Commons on the 6th December 2023.
This Bill intends to extend the definition of “terminal illness”, allowing people who have not already drawn their Pension Protection Fund (PPF) to receive a lump sum payment where they have a life expectancy of twelve months rather than the current six. Pensions serve as a cornerstone for financial well-being during retirement, offering individuals the peace of mind that comes with knowing there's a reliable source of income awaiting them after years of dedicated work. For many this is a determined source of income in their next stage of life. However, for those with terminal illnesses this would be cash they never saw; coupled with what is, most likely, the most devastating, dreadful news that an individual and their family could ever hear.
The extension of this lump-sum payment via the Pension Protection Fund from six months to twelve months was the right and just thing to do in order to provide these individuals with the autonomy to make decisions based on their unique needs and priorities. It would give them access to additional resources that can enhance their comfort, support emotional well-being and contribute to a more dignified and fulfilling end-of-life experience. This Bill will also see a small number of people, who previously were ineligible, now receive, rightfully, their lump-sum PPF payment.
Currently these individuals are only eligible for a lump-sum pay out if they have a life expectancy of 6 months or less, and this Bill would extend this to a full year (12 months) to fully ensure that those individuals can be provided with a level of comfort and security as they live out the remainder of their lives.
I would invite any individuals who have been impacted by a terminal illness to reach out and share their experiences on how this extension may have positively impacted their departed loved ones. Please contact me at: Laurence.Robertson.MP@Parliament.UK (with the reference: PI-PMB).