Controversial plans to ditch UK pension tax-free lump sum, and more 'ignites' industry

The Institute for Fiscal Studies today (6 February 2023) released a controversial report, ‘A blueprint for a better tax treatment of pensions', covering a number of proposals for the reform of pensions taxation, including scrapping the 25% tax-free lump sum and bringing pension pots under the scope of inheritance tax. Jon Greer, head of retirement policy at Quilter, said: "On the surface of it, the proposals in the IFS report on pension taxation, out this morning, will almost certainly elicit some consternation from the industry and public. But regardless of whether people agree or disag...