Pension inheritance tax rules could be tweaked or the normal minimum pension age (NMPA) could rise as part of any government plan to increase pension allowances, industry experts fear.
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...
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