Navigating a new era for pension inheritance

The UK government is going ahead with its proposed changes to the inheritance treatment of pensions, potentially raising £1.4bn in tax revenue by the 2029/30 fiscal year. These reforms present significant and widespread challenges to financial strategies, impacting clients’ wealth and estate planning and transfers to future generations. Long-standing reliefs, such as the transfer of a pension to a spouse or civil partner or a charity, remain in place, but some groups are now especially vulnerable. Fortunately, advisers may be able to implement a range of gifting options for pension funds, with...