Retirement: ‘Death tax’ on pensions to be cut

‘Death tax’ on pensions to be cutIn a surprise move, the Chancellor George Osborne, has announced a major overhaul in the tax treatment of pension death benefits. The announcement is the missing piece of the jigsaw following the dramatic changes announced in the Budget and the detailed rules revealed earlier in the summer. The change has taken the pension industry by surprise, with many experts suggesting it has the potential to revolutionise retirement planning for both older and y9ounger generations. Current pension 'death tax' rules Under the current rules the amount of tax paid ...