New Inheritance Tax rules: Impact on pensions and death benefits
LCP experts Sir Steve Webb and Alasdair Mayes will be joined by IFA Maxine O’Hanlon of WPS Advisory, to discuss the upcoming changes that are expected to bring many pension and death benefits into scope of inheritance tax. They will explore the implications of these changes for trustees, employers and individuals.
The scope and impact of the proposed changes has the potential to be much wider than many first thought. In addition to unused Defined Contribution (DC) pension pots, the changes might have an impact on life assurance benefits and annuity purchase. They could also cause material delays in the payment of lump sum death benefits from Defined Benefit (DB) schemes which could include lump sums on death in service, refunds of contributions, funeral grants and five-year guarantee payments. There is also an impact due to the new tax requirements for employers.
Our webinar will explain the possible impact of the proposals, simple steps trustees and employers can take to understand the extent to which the proposals could affect you and the ways in which you can help your members and employees.
Maxine will provide insights into how individuals are likely to respond to the changes if they go ahead and we will explain how employers and trustees could respond to support them.
