Spring Budget 23: Tweaks to NMPA/IHT could be the cost of pension allowance increase

Evelyn Partners financial planning partner Gary Smith suggested the government could tweak inheritance tax (IHT) rules around pensions in a bid to "temper" any generosity in pension allowances. He said: "There is a chance, however, that Hunt could look to temper this apparent generosity to those who save a lot into their pensions by targeting some other benefit of pensions, like the favourable treatment of defined contribution (DC) pots under inheritance tax rules." Standard Life managing director for customer Dean Butler said that over the past months there had been a number of repor...