Category Archives: Pensions

Update on Defined Benefit Death Benefits

Pension death benefits payable from a Defined Benefits scheme for same sex couples and the confirmed reduction in the money purchase annual allowance(MPAA).

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QROPS Changes: Budget 2017

The Chancellor as announced the introduction of the overseas transfer charge for some QROPS transfers. We look at the detail, the exemptions from the charge, the new 5 year rule and how and when the overseas transfer charge will operate.

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Pension Transfers and IHT

The Staveley case and what it might mean for pension transfers by individuals in ill-health.

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Possible Pension Tax Relief Change in the Autumn Statement

A summary of the background to, possible shape of and consequences stemming from pension tax relief change that could be in the Autumn Statement.

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The Future of Pensions Tax Relief

Change seems inevitable, the direction of travel seems clear – what can we expect when we get more detail at the next Budget?

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Autumn Statement: IHT and Pensions

A welcome relaxation on IHT and pensions announced in the Autumn Statement plus a brief review of pensions as an “IHT Free Zone”.

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IHT and pensions

Generally speaking, IHT is not an issue for pension arrangements. The pension fund is not in the estate of the member and the relevant property regime doesn’t apply.

There could, however, be the potential of an IHT liability resulting from a single contribution or scheme transfer made within two years of death by an individual who knew they were in serious ill health when they made the transfer.

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Three Lies

There is more than meets the eye to three important pre-election tax changes; Pension death benefits, the residence nil rate band and annual allowance reduction.

Important responsibilities (to inform affected clients) and opportunities to factor the changes into financial planning result for advisers.

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Horton v Henry

We await the result of the court of appeal decision in Horton v Henry (expected in January) to determine whether an income payments order can be made in relation to the uncrystallised pension benefits  of a member age 55 or over. The key issue is whether the member (age 55 or over) can be said to be “entitled ” to such uncrystallised benefits before they are actually paid.

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Developments in The Retirement Income Planning Market

Annuity provider consolidation , fund management group interest and the development of structured products with annuity qualities have important implications for the range of solutions that will be available to planners developing retirement income strategies for their clients in the “post freedoms” world.

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