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HMRC sets out pension/IHT information-sharing and payment processes


By Callum Conway

HMRC has published further details on how pension schemes, personal representatives and beneficiaries will be expected to manage inheritance tax (IHT) on pension death benefits from 6 April 2027, including new information-sharing, withholding and direct-payment requirements.

The second technical note on the reforms sets out the processes that pension scheme administrators will need to follow once they become aware of a member’s death, as well as the responsibilities of personal representatives and beneficiaries


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Industry warns against 'overly burdensome' DB surplus rules as trustees prepare for widespread use

The government has been urged to simplify its proposed defined benefit (DB) surplus framework and preserve trustee discretion, amid warnings that overly burdensome rules could limit schemes’ ability to make use of the new flexibilities from April 2027

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SPP backs stronger SIPP protections; warns against disproportionate burdens

The Society of Pension Professionals (SPP) has backed the Financial Conduct Authority’s (FCA) plans to strengthen consumer protection in the self-invested personal pension (SIPP) market, but warned that the final regime must remain proportionate, risk-based and practical

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Guest comment: Why pension adequacy demands a new approach

Pensions Management Institute chief strategy officer, Helen Forrest Hall, discusses the importance of pension adequacy and the work being done to make it achievable

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News in brief - 28 August 2026

The latest news in brief and mandates from the past seven days

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TPR surplus guidance must avoid 'undermining' DB investment ambitions

The Pensions Regulator’s (TPR) upcoming guidance on defined benefit (DB) surplus release must avoid creating expectations that surplus should be distributed in a particular way, or risk undermining government ambitions to encourage well-funded schemes to run on and invest for growth, the Association of Consulting Actuaries (ACA) has warned

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Master trust growth strategies deliver positive Q2 returns after volatile start to 2026

Defined contribution (DC) master trusts reported a rebound in growth-phase strategy returns over Q2 2026, as easing geopolitical tensions and falling oil prices improved investor sentiment, Isio has revealed

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Nearly three in 10 young adults have used AI for pension information

Almost three in 10 (29 per cent) people aged 18-34 have used artificial intelligence (AI) to get information about pensions or retirement savings, according to Standard Life research
Affordability influencing retirement timing for vast majority of workers

More than nine in 10 (92 per cent) UK employees would retire earlier than currently planned if they could afford to do so, according to research by Penfold
Low earners may miss out on pension top-ups despite HMRC letter campaign

Around one million low earners are set to be contacted by HMRC inviting them to claim missed pension tax relief top-up payments, although LCP partner, Steve Webb, has warned there could be "huge non-take-up” because many recipients may be unaware of the issue or mistake the letters for a scam
Three-quarters of run-on DB schemes yet to decide how to use surplus

More than three-quarters (76 per cent) of defined benefit (DB) schemes in surplus and planning to run on are yet to decide how surplus should be shared between employers and members, according to research from Aon

Surplus rules need to 'recognise uncertainty’ around DB regime

The government’s proposed defined benefit (DB) pension surplus reforms need to recognise uncertainty around low dependency valuations and emerging market practice, XPS has argued
Gen Z three times more likely to target retirement before age 55

Gen Z workers are three times more likely than the wider population to want to retire before the age of 55, amid growing online interest in the Financial Independence, Retire Early (FIRE) movement, research from Skipton Building Society has revealed


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In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs

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