Understanding the Tax Risks of Inheriting a Pension
Thursday, 1 August 2024, 05:00
Potential Tax Changes on Inherited Pensions
If you’ve recently inherited a pension from your spouse, you may be wondering about the current tax rules and future implications. Right now, you can access the entire pension pot tax-free. However, there are discussions about possible tax reforms that could impact this.
Possible Scenarios for Tax Implementation
- Pension beneficiaries may face new taxes
- Changes might be introduced suddenly or gradually
- Consulting financial experts is crucial
As per Lisa Caplan from Charles Stanley, it's vital to stay informed and prepared for any adjustments that the government may implement.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.