Major changes to your pension were announced in the Budget earlier in the year, but today’s Autumn Statement still contained some important additional tweaks.
Tax on pension death benefits
The new rules, which had partly been announced already, will significantly reduce the amount of tax payable on death, although contrary to some news articles, it won’t be completely abolished.
From April 2015 the new rules can be summarised as follows:
Death before the age of 75 Now completely tax-free, irrespective of whether the individual ...