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HMRC publishes pensions IHT update; final guidance not expected until spring 2027


By Callum Conway

HMRC has published further details on how the new regime for pensions and inheritance tax (IHT) will operate from April 2027, although concerns have been raised that schemes are being left with too little time to prepare.

In a technical note, HMRC confirmed that most unused pension funds and pension death benefits will be brought within the value of a deceased person’s estate for IHT purposes from 6 April 2027


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FCA bans and fines former Bluesky director £755,000 over pension transfer advice

The Financial Conduct Authority (FCA) has fined and banned former Bluesky Wealth Management Limited sole director and joint owner, Frank Breuer, for serious misconduct relating to defined benefit (DB) pension transfer advice

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Govt urged to engage with pension schemes on future role of PPF

The government should fully and transparently engage with pension scheme stakeholders on the future role of the Pension Protection Fund (PPF) amid increased fund reserves, the Society of Pension Professionals (SPP) has argued

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DB funding surplus falls to £258.5bn as market volatility persists

The aggregate surplus of defined benefit (DB) pension schemes fell by £5.3bn in April to £258.5bn, according to the Pension Protection Fund's (PPF) 7800 Index

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A third of schemes 'highly likely' to use Virgin Media remedy

A third (33 per cent) of pension schemes are ‘highly likely’ to make use of the Virgin Media remedy as it becomes law in the Pension Schemes Act, a poll by Sackers has found

Story 6

Fix retirement system ‘leaky bucket’ before increasing AE contributions

The ‘leaky bucket’ of inefficiencies within the UK pensions system should be fixed before increasing auto-enrolment (AE) contributions, Hymans Robertson senior DC consultant, James Smith, has suggested in a theoretical debate

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XPS launches integrated DB run-on solution as focus on surplus strategies grows

XPS Group has launched an integrated defined benefit (DB) run-on solution designed to support trustees and employers as the industry prepares for the next phase of the DB surplus regime

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TPR consults on updated five-year Corporate Strategy

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Smaller schemes falling behind larger peers on climate action

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AI has ‘clear role to play’ in supporting pension administrators

Pension schemes have been urged to overcome their resistance to the responsible use of artificial intelligence (AI), following an internal pilot by Trafalgar House that found AI has the potential to support schemes in a practical way
DC scheme members lack understanding of potential retirement income and options

Workplace defined contribution (DC) pension scheme members lack an understanding of their potential retirement income and the options available to them at retirement, research from CoreData has shown


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