Annuities dealt another blow by Osborne's pension 'death tax' cut

The Chancellor’s pension revolution continued as he scrapped the 55% ‘death tax’ at the Tory Party conference, handing drawdown another advantage over annuities

Jenna Towler
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The Chancellor's pension revolution continued as he scrapped the 55% ‘death tax' at the Tory Party conference, handing drawdown another advantage over annuities. Jenna Towler gauges industry reaction…

The current 55% tax duty payable when pension funds are passed on after death will be axed under this government, George Osborne told the Conservative Party conference. From April 2015, if a pension...

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