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Pensions and retirement
Browse our library of technical bulletins and case studies, focused on Pensions and Retirement, to find answers to your most commonly asked questions.
Making pension contributions work harder for clients in 2026
19/06/2026
Pension tax relief works on the principle that contributions to a pension fund are exempt from tax. Within the pension, the invested funds grow in a tax privileged environment, and the saver can receive up to 25% of the fund tax free when it’s accessed.
Softening jobs market
22/04/2026
Geopolitical issues, a floundering employment market and the impact of generative AI has created fears of job losses across many sectors, leading to some workers facing the risk of redundancy.
Making a death benefit nomination
25/03/2026
Previously, we covered why it can be a good idea for members to nominate a wide range of family members or friends to be potential beneficiaries of a pension fund. Doing this ensures that if any person does become a beneficiary on death, the scheme administrator won’t be restricted to providing a lump sum only and can offer beneficiary’s drawdown or an annuity as well.
Dependants, nominees, and successors
02/04/2026
In her first Budget as Chancellor in October 2024, Rachel Reeves announced the government’s intention to apply inheritance tax (IHT) to unspent pension pots from April 2027 onwards.
Think before you withdraw: The new reality of pension tax-free cash
08/10/2025
On 25 September, joint statements were issued by HMRC and the FCA confirming their views on paying tax-free cash back to a registered pension scheme. These statements make clear that statutory cancellation rights do not apply to tax-free cash and once paid, the payment cannot be undone.
Read Think before you withdraw: The new reality of pension tax-free cash
Transitional Protection in relation to the Lifetime Allowance
30/09/2025
On 6 April 2024, the Lifetime Allowance (LTA) was abolished. In the years prior to the abolition, various types of transitional protection were made available. These protections provided either an enhanced LTA and/or greater tax-free lump sum rights.
Read Transitional Protection in relation to the Lifetime Allowance
Inheritance tax and pensions update
22/08/2025
In her first Budget as Chancellor in October 2024, Rachel Reeves announced the government’s intention to apply inheritance tax (IHT) to unspent pension pots from April 2027 onwards.
Maximising Tax-Free Cash: Lump Sum vs Drip-Feed Drawdown
25/06/2025
Most retirees can take up to 25% of their pension savings tax free, with this option being one of the most cherished features of private pension saving. As a result, few people want to miss out on taking their tax-free cash and the majority take their full entitlement at the point that they first access their pension.
Read Maximising Tax-Free Cash: Lump Sum vs Drip-Feed Drawdown
Rethinking Retirement: The Case for Drip-Feed Drawdown
18/06/2025
Generally, retirees can access their pension upon reaching the normal minimum pension age of 55 (57 from 6 April 2028). At that point, 25% of the capital value can usually be taken as tax-free cash, whilst the remainder must be used to provide a taxable pension benefit.
Read our Rethinking Retirement: The Case for Drip-Feed Drawdown bulletin
Mitigating tax on dividends
28/05/2025
For the purposes of making pension contributions, dividends aren’t treated as relevant UK earnings, so do not qualify for tax relief.
Restoring the personal allowance
02/04/2025
UK income tax thresholds are currently frozen until at least 5 April 2028, with many anticipating this will be extended in the Autumn unless there is an unexpected improvement to Government finances.
Qualifying for the marriage allowance
14/05/2025
We have recently looked at how pension contributions can be used to restore the Personal Allowance or avoid the High Income Child Benefit Charge.
Restoring child benefit
09/04/2025
In our last update, we looked at the additional tax relief available when using pension contributions to bring income below £100,000, thereby restoring the personal allowance.
The Pensions Regulations
22/01/2025
The Lifetime Allowance (LTA) was abolished on 6 April 2024 and replaced with the Lump Sum Allowance (LSA) and Lump Sum & Death Benefit Allowance (LSDBA). These new allowances are now the main tools that restrict what can be taken tax-free from a pension.
Pension commencement lump sum recycling rules
18/09/2024
Once an individual has reached age 55 (normal minimum pension age), they are able to access their private pension savings. For most people, 25% of their pension can be taken tax free, with 75% subject to income tax.
Read our Pension commencement lump sum recycling rules bulletin
Inheritance tax changes for pensions
20/11/2024
On 30 October 2024, Rachel Reeves delivered her inaugural Labour budget, revealing a package of tax increases designed to raise over £40 billion a year.
Permissive statutory override
24/07/2024
Since the pension freedoms were introduced in 2015, many people now wish to flexibly access their pension fund in retirement.
Lump Sum Allowance and the transitional standard calculation
13/03/2024
In recent months, we have produced several articles covering the abolition of the lifetime allowance and the new pensions rules from 6 April 2024.
Read our Lump Sum Allowance and the transitional standard calculation bulletin
Rise in normal minimum pension age
27/03/2024
In March 2014, as part of the ‘Freedom and choice in pensions’ consultation, the Government announced that the age people could access their private pension savings would be linked to the State Pension.
Abolition of lifetime allowance December
19/12/2023
At the Spring Budget on 15 March 2023, the Chancellor announced that the government would remove the Lifetime Allowance charge from 6 April 2023, before fully abolishing the Lifetime Allowance (LTA) in a future Finance Bill.
Transitional tax free amount certificates
19/02/2024
On 6 April 2024, the lifetime allowance will be fully abolished.
Pension options on divorce - offsetting
01/11/2023
When married couples divorce or civil partnership’s dissolve, pension benefits will often form a large part of the couple’s combined assets.
Pension options on divorce - pension sharing
15/11/2023
Pension Sharing is an option on divorce or dissolution of a civil partnership.
Read our Pension options on divorce - pension sharing bulletin
Earmarking orders
08/11/2023
Earmarking was introduced by The Pensions Act 1995.
Abolition of the lifetime allowance July 2023
26/07/2023
The Spring budget of 15 March 2023 announced that the lifetime allowance charge would be removed for the 2023/24 tax year and that the lifetime allowance would be abolished fully as from 6 April 2024.
Read our Abolition of the lfetime allowance July 2023 bulletin
Financing retirement
16/08/2023
In the UK, the state pension won’t fully cover most people’s income requirements and some private savings are likely to be needed.
Pension tax for overseas residents
10/05/2023
UK tax is due on UK income regardless of whether an individual is UK resident or lives overseas.
Pension tax for overseas residents
10/05/2023
UK tax is due on UK income regardless of whether an individual is UK resident or lives overseas.
Lifetime allowance charge
21/06/2023
When the lifetime allowance (LTA) was introduced, a lifetime allowance excess could be taken as a lump sum (with a 55% tax charge) or used to provide taxable pension income (with a 25% tax charge).
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