Member

We do, of course, need to strike a fair balance between the beneficiaries of the pension and of the wider estate. That is exactly why we announced that personal representatives will be able to direct pension schemes to withhold 50% of the taxable benefits for up to 15 months if they reasonably expect inheritance tax to be due. Pension beneficiaries will therefore still be able to access 50% of their taxable pension benefits as soon as their pension scheme is ready to pay, and the remainder once the inheritance tax on the pension has been paid or the notice to withhold has been withdrawn.