Pensions

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Pension savers plan to leave half of their lump sum to their children

Pension savers plan to leave half of their lump sum to their children

New research commissioned by Investec Wealth & Investment has found that almost half (46 per cent) of savers with private or workplace pensions plan to leave at least part of their lump sum to their children when they die.  The findings come one year on from new rules allowing retirement nest eggs to be passed down the tax-free for those dying under 75. 

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Hargreaves Lansdown comments on secondary annuity market tax consultation

Hargreaves Lansdown comments on secondary annuity market tax consultation

Tom McPhail, Head of Retirement Policy at Hargreaves Lansdown has commented on the HMRC tax consultation on the secondary annuity market. The consultation is a further step towards the launch of this market on 6 April 2017, from which date pension investors who have previously bought an annuity will be allowed to sell their guaranteed income in exchange for a lump sum.