Age 75 deadline set to remain

Dear Editor, In the Budget Notes 2008, published after the Chancellor had delivered his Budget (Budget Note 45) the Government announced its intention to continue with the arbitrary age of 75 as the date by which all must stop funding for a pension and start drawing it. Also contained is draft legislation to introduce unauthorised tax charges and inheritance tax to funds remaining post age 75 held in scheme pensions. However, unlike alternatively secured pensions where a surplus on death may be given to charity no such option appears to be given for surpluses arising on death in scheme pe...