Keeping it simple: Diffusing death benefit confusion

Teething problems

clock • 4 min read

Big changes to death benefit rules have left people feeling unnerved, writes Jessica List. Here she outlines the root of the problem and urges everyone involved to take a simple approach

If you'd asked me ten months ago which of the April 2015 changes would still be the biggest topic of conversation today, I'm not sure death benefits would have been at the top of my list. Yes, there were some teething problems: most notably, perhaps, the rules around appointing nominees and successors. The legislation appeared to compromise the administrator's discretion over payments, sparking concerns over inheritance tax implications. HM Revenue & Customs confirmed, however, that this was not the case: administrators still have discretion to choose beneficiaries, although the me...

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