Why death benefit nominations just got even more important

LTA removal results in tweaks to rules on death benefits

clock • 3 min read

As we say goodbye to the LTA Lisa Webster explores death benefit nominations and explains why some upcoming technical rule tweaks...

Since pension freedoms came along back in 2015 the death benefits that can be paid from pensions can be considered generous, especially in the scenario where the member dies before age 75. Benefits can be paid tax-free, and if the recipient is a dependant or has been nominated they will have the option of keeping the benefits in the tax-free pension wrapper. So what's changing from April 2024? Thankfully, not as much as we'd feared. Back in July, we had draft legislation making changes to remove the lifetime allowance (LTA). Whilst this was silent on beneficiaries' income, the accom...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Salary sacrifice changes to see 2.8 million cut back pension saving

Salary sacrifice changes to see 2.8 million cut back pension saving

According to Freedom of Information request to HMRC

Sophia Panayi
clock 01 June 2026 • 2 min read
Beyond the numbers: Understanding clients' emotional journey into retirement

Beyond the numbers: Understanding clients' emotional journey into retirement

'Supporting clients through the transition into retirement requires far more than technical financial expertise alone'

Catherine Foot
clock 29 May 2026 • 5 min read
Young disabled people face £245,000 pension gap

Young disabled people face £245,000 pension gap

PensionBee research finds

Sophia Panayi
clock 27 May 2026 • 4 min read