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HMRC publishes pensions IHT update; final guidance not expected until spring 2027


By Callum Conway

HMRC has published further details on how the new regime for pensions and inheritance tax (IHT) will operate from April 2027, although concerns have been raised that schemes are being left with too little time to prepare.

In a technical note, HMRC confirmed that most unused pension funds and pension death benefits will be brought within the value of a deceased person’s estate for IHT purposes from 6 April 2027


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Higher earners and private sector workers to bear the brunt of salary sacrifice changes - IFS

Higher earners and private sector workers are set to bear the brunt of the government’s planned tax changes to salary sacrifice pension contributions, analysis from the Institute for Fiscal Studies (IFS) has found

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FCA bans and fines former Bluesky director £755,000 over pension transfer advice

The Financial Conduct Authority (FCA) has fined and banned former Bluesky Wealth Management Limited sole director and joint owner, Frank Breuer, for serious misconduct relating to defined benefit (DB) pension transfer advice

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12.2 million adults still face pension poverty despite improved forecast

Almost a third (31 per cent) of UK adults – an estimated 12.2 million people – are at risk of pension poverty in retirement, according to Scottish Widows, although this marks an improvement from 39 per cent (15.3 million people) in 2025

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Pure DC not the ‘last word’ in pension provision despite CDC challenges – Willets

‘Pure’ defined contribution (DC) is not the “last word” in pension provision, despite collective DC being “incredibly difficult to get going”, Resolution Foundation president, Lord David Willets, has claimed

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DB scheme funding improves in April amid continued volatility

Defined benefit (DB) pension scheme funding levels recovered in April after falls during March, according to Broadstone’s Sirius Index

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Two in five people not confident in six-month deadline to pay pensions IHT bill

Over two in five (43 per cent) UK adults are not confident the six-month deadline for paying inheritance tax (IHT) on unused pension funds will be long enough, research by Standard Life has shown

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XPS launches integrated DB run-on solution as focus on surplus strategies grows

XPS Group has launched an integrated defined benefit (DB) run-on solution designed to support trustees and employers as the industry prepares for the next phase of the DB surplus regime
Guest comment: Pensions dashboards connection deadline is fast approaching

Pensions Dashboards Programme industry principal, Chris Curry, discusses schemes' and providers' obligations ahead of the pensions dashboards connection deadline in six months' time


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