Pensions – Tax Treatment on Death

Alongside the changes from April 2015 to the access of pension funds, significant changes were made to the tax treatment of pension funds on death. This factsheet summarises the rules which may allow a pension fund to pass free of all taxes on the estate of the deceased and free of all taxes on the beneficiaries of the pension fund.

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Pensions – Tax Reliefs

There are two broad types of pension schemes from which an individual may eventually be in receipt of a pension: workplace pension schemes and personal pension schemes. A workplace pension scheme may either be a defined benefit scheme or a money purchase scheme.

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