Stop the double tax (IHT & Income Tax) of pension funds & death benefits

Summary

The Government are introducing inheritance tax to pension funds & death benefits from April 2027. When you die this may now result in a disproportionate and unfair double taxation on beneficiaries (income tax and inheritance tax) which we think results in a disincentive to funding a pension. We think the Government need people to take responsibility for providing income in retirement and the simplest and most effective way for the majority to achieve this is a pension. We think the tax on pensions funds & death benefits is a disincentive for most people to funding a pension. Many people want to leave their pension fund & death benefits to their chosen beneficiaries (usually children / grandchildren). We think this double taxation - income tax and inheritance tax means a lot of beneficiaries may have to pay 67% tax.

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