Planning ahead for the new Pension & Inheritance Tax rules

From April 2027, unused pension funds may be included in your estate for Inheritance Tax purposes and for many people, this could affect what they leave behind.

If you have built up pension savings, now could be a good time to review your plans and explore the choices available to you. But it doesn’t mean you should automatically withdraw your pension. At Roxboro, we will work with you to help you understand the potential impact of different strategies — so you can make informed decisions about enjoying, protecting and passing on your wealth.

The key question is: what should you do differently — if anything?

Find out what the changes could mean for you

We will explain how the new rules will affect you and the choices available to you. The options may include

• Spending more in retirement
• Gifting wealth to family during your lifetime
• Making regular gifts to family from surplus income
• Securing some of your retirement income with an annuity
• Using trusts to reduce your Inheritance Tax exposure whilst still allowing you access to capital
• Using life assurance to pay any Inheritance Tax bill
• Reviewing the order in which you spend savings or pensions

Often a combination of strategies will produce best results. If you are concerned, don’t worry. We are at hand to help you make sense of your choices. We will often use cashflow modelling to help you understand how different decisions could affect your retirement income, financial security, and the value of your estate.