Last Monday (21 July 2025), the UK Government published draft legislation which means that, from April 2027, most unused pension savings and death benefits will count towards your estate when you die.
If you’re wondering…
- which pension benefits are in scope (and which aren’t)?
- who’s responsible for paying the tax?
- how will the income tax offset actually work in practice?
- what’s the timeline for implementation?
…you’re not alone.
So in this bonus podcast episode, host Richard Allum met up with Barnett Waddingham’s James Jones-Tinsley to talk through the Government’s planned changes, what they mean for paraplanners and your clients, and suggest practical steps that you can already take to help clients get ready for the change.
The measures, which feature in the Finance Bill 2025-26, could still change as the proposals make their way through Parliament from September. But if you’re wondering where things stand right now and what you should be thinking about for clients with decent-sized pension pots, this is a fantastic update that gives you the current picture.
Speaking of the Finance Bill…
If you’ve ever wondered how Budget measures become law, James met up with Leanne Pickering of Pivotal Paraplanning last year to walk through each step in the process. Follow the link for more:
Listen: From Parliament to paraplanner: How do Budget measures become law?
And speaking of pensions…
James has recorded a series of really helpful jargon busters on new and old pensions exclusively for the Assembly. Help yourself by following these links:
New pensions jargon: part one
Listen: A plain English guide to new pensions jargon: part one
Watch: A plain English guide to old pensions jargon: part one
New pension jargon: part two
Listen: A plain English guide to new pensions jargon: part two
Watch: A plain English guide to old pensions jargon: part two
And if that’s not enough and you want OLD pensions jargon, here are links to James’s trio of episodes:
Podcasts: old pensions jargon
Listen to part one: A plain English guide to old pensions jargon: part one
Listen to part two: A plain English guide to old pensions jargon: part two
Listen to part three: A plain English guide to old pensions jargon: part three
Videos: old pensions jargon
Watch part one: A plain English guide to old pensions jargon: part one
Watch part two: A plain English guide to old pensions jargon: part two
Watch part three: A plain English guide to old pensions jargon: part three
Event pages: old pensions jargon
Event details for part one: A plain English guide to old pensions jargon: part one
Event details for part two: A plain English guide to old pensions jargon: part two
Event details for part three: A plain English guide to old pensions jargon: part three
