Death Benefits page - couple walking in the forest in autum

The way in which pensioners are able to pass their plans on to their spouse, children or named beneficiaries was drastically changed in 2015. Punitive charges of up to 55% used to be levied upon pension plans under certain circumstances and although there are still events that trigger penalties, these generally occur after 75.

> INCOME DRAWDOWN

Although pension plans may be efficient in terms of inheritance tax in certain circumstances, if the plan is gifted as a lump sum, complications can arise with regards to taxation on the death of the beneficiary and there will be no protection for the beneficiary in terms of the family bloodline.

Please see our section on Estate Planning for further information »


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