Autumn Budget 24: Inherited pensions to face inheritance tax from 2027
13 hours ago
Admins To Handle Tax Reporting And Payments; DB, DC Affected
October 30, 2024 • 4-minute read
Image: Kirsty O’Connor / Treasury
In 2015, the introduction of pension freedoms eliminated the 55% tax penalty on pension funds that went unclaimed upon an individual’s death. Furthermore, the removal of the Lifetime Allowance in March 2023 lifted the restrictions on the amount of money individuals can save into their pensions.
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