Beneficiary flexi access drawdown11/19/2023 There is a range of ways in which death benefits can be provided for beneficiaries. Please see our 'Pensions and IHT' guide for more information, including how any potential IHT liability can be avoided. Due to the lack of discretion, this can sometimes have IHT consequences. * Nobody has discretion over who should receive death benefits from a Section 32 or Retirement Annuity Contract - instead, they're paid directly to the estate of the deceased or to named individuals. If the member had completed a nomination form (or made a letter of wishes), this will help them with their decision making. When an individual dies with funds in a money purchase pension scheme, the trustees or scheme administrators of a money purchase pension will normally* have discretion over who receives death benefits.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |