The advisory firm Blick Rothenberg is urging the government to abandon proposed pension tax changes that would subject pensions to inheritance tax starting April 2027. Tomm Adams, head of their International Pensions and Benefits advisory service, warned that this policy could severely impact savers and result in double taxation. He emphasized the detrimental consequences for unmarried elderly couples, who may rely on pension funds for care costs. Adams proposed that any taxation on pensions should only apply to amounts exceeding a specific threshold, to protect those who responsibly save for their future.
Tomm Adams argues the Government's proposed pension tax changes will penalize savers and double tax their plans, urging for crucial revisions before implementation.
Adams insists that the policy shifts are a significant concern for unmarried elderly couples facing increased care costs from pensions subject to inheritance tax.
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