Changes to death benefits: What does it mean for clients?

    Clients aged 55 to 65 years Most clients make some or all of their big pension decisions within this age bracket: annuity or drawdown, level or increasing income, how much pension commencement lump sum (PCLS) to take, etc. For those who are planning to make, or have already made, the decision to enter drawdown, this tax cut on crystallised funds can only be seen as good news and an opportunity to pass their pension pot tax-free to a named beneficiary. For those who are yet to make this decision, the apparent tax advantage of drawdown death benefits over a dependants' annuity...