@andrewkingwealth: Imagine losing a loved one, waiting over two years for their pension payout, and then being taxed up to 45% on it That's been the "two-year rule". If a pension death lump sum was paid more than two years after the scheme found out about the death, money that should have been tax-free could be taxed at the beneficiary's income tax rate. Even when the delay wasn't the family's fault. In the Budget on 28 October 2026, the government scrapped it ✅ It applies to any payment made on or after 28 October 2026, even if the person died years ago. Tax-free treatment still depends on the person dying before 75 and having enough of their lump sum and death benefit allowance left. ✅ Keep your nomination or expression of wish forms up to date ✅ If a payment is delayed, ask the scheme about the new rules General information only, not financial or tax advice. Check your own situation with your pension scheme or a qualified adviser. #pensions #Budget2026 #UKtax #deathbenefits #bereavement

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2026-10-31 08:07:24

2026-11-01 10:38:38

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