Nearly half of financial advisers say clients are already scaling back pension contributions to prioritise inheritance tax (IHT) planning ahead of new rules treating unused pension funds as part of estates, according to research from investment manager Downing.
Downing found that 47% of advisers are reporting that clients are reducing contributions to fund alternative IHT strategies, and 30% are seeing clients withdrawing pension money to invest in dedicated estate-planning solutions. Downing commissioned independent research company PureProfile to interview 100 UK financial advisers and wealth managers using an online methodology during August 2025. The research found that 75% of advisers expect to adjust IHT strategies for up to 30% of their clients, while 61% predict at least a 15% rise in clients facing a potential IHT bill. From 6 Ap...
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