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Top Grunberg & Co News

Pension pot withdrawals rise by 60 per cent as people fear an Inheritance Tax bill

Taxes · United Kingdom

Pension pot withdrawals rise by 60 per cent as people fear an Inheritance Tax bill

In the last 12 months, there has been a 60 per cent rise in pension pot withdrawals. In total, over £18 billion in cash sums have been withdrawn by concerned pensioners and savers. This rise has likely been caused by the Inheritance Tax (IHT) announcements during the 2024 Autumn Budget, in which the Chancellor Rachel Reeves confirmed unused pension pots will be added to the value of an individual’s estate from 2027. This has prompted people to p…See the Story

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