Pensions - why they’re making news now

Planning for the future is always important, and for most people, this means thinking about pensions.

Current developments push pension planning even higher up the rankings than usual.

Why now?

At one end of the spectrum, the government is extending the reach of Inheritance Tax (IHT), so that most unused pension funds and death benefits will come within scope of IHT from 6 April 2027.

At the other end of the spectrum, a report this summer painted a bleak picture of projected income for future retirees. It noted those retiring in 2050 could have 8% less private pension income than those retiring today, and that almost half working-age adults – including over three million self-employed people - currently save nothing towards retirement.

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