PCLS after age 75: Addressing a common misconception

As expected, following the inheritance tax reforms announced in the 2024 Autumn Budget, advisers and clients are increasingly seeking clarity on whether pension commencement lump sum (PCLS) benefits remain accessible after age 75 and consequently, at WBR we have seen a noticeable increase in related enquiries over the past six months. While the legislation itself has not changed around PCLS payments, the frequency of these enquiries has increased as members re-assess how and when to access their pension savings. In particular, the government's proposal to bring most unused pension fun...