Comment and Blogs
Since the Lifetime Allowance was abolished and replaced with the Lump Sum Allowance (LSA) and lump sum and death benefit allowance (LSDBA), we have seen an increase in SIPP members who want to take drawdown only – foregoing the right to take the associated pension commencement lump sum (PCLS).
Working in UK pensions, I’ve always accepted that the system evolves. Fiscal pressures change, demographics shift, and governments recalibrate policy objectives. But even allowing for that, the pace and volume of legislative change in the pensions space over the last few years feels unprecedented, and in my view increasingly problematic.
One of the most disliked aspects of bringing pensions into the estate for inheritance tax (IHT) purposes from 6 April 2027 is the double taxation that will occur when the member dies on or after their 75th birthday.
We’ve known for many years that normal minimum pension age, NMPA it's known, is going up.
I’ve written before about the lack of coherence in the UK’s pension complaints landscape and it remains a source of real frustration for those of us working in the sector.
The headline story from Budget 2025 - in the pension world at least - was the plan to cap National Insurance relief for pension contributions paid through salary sacrifice at £2,000 a year.