Navigating pension options - Royal London‍

Join Royal London for an in-depth webinar looking at key aspects of pension options, taxation rules, and upcoming legislative changes that could impact financial planning strategies.

• Explore the range of pension schemes available, including workplace and private pensions, and gain clarity on how different pension types are taxed.
• Stay informed about the latest updates in pension legislation, including new contribution rules, tax relief adjustments, and other regulatory shifts.
• A brief look into the proposal to apply IHT to pensions and what it could mean for financial planning, estate management, and retirement wealth preservation.

LEARNING OBJECTIVES:

• Describe what options are available from pensions and how they’re taxed.
• Explain the changes from 6 April 2024.

‍

Rewrapping client wealth – rewriting the traditional wealth building story - Quilter

The financial planning landscape as we know it has changed indescribably. With the freezing or reducing of allowances and exemptions, HM Treasury expectations are that an additional 11.5m people will pay higher rate and 1.8m people will pay additional rate income tax in the next four years.  

From 2027 pensions are being brought back into the estate for the purposes of IHT. In what could be described as the most fundamental shift in our lifetime, what impact will this have? Not only to clients and the additional tax liability but to you, your processes and the services you provide.  

With IHT receipts expected to increase by £1.7bn from this action alone, we can no longer ‘leave the pension till last’. The easy answer is to spend the money saved in a pension – that’s what it’s designed for.  But there will be client’s whose primary objective of their pension is to pass it on – what options will be available to them now?

‍
LEARNING OBJECTIVES:

• Identify the impact these changes will have from April 2027
• Demonstrate some of the options available for clients who have accrued pension wealth
• Explain how gifting from normal expenditure rules work.