Help to protect your pension benefits for your loved ones

We all want to protect our hard-earned pensions from tax as much as possible. And we want to make sure that our pensions are as well-protected, should something unexpected come our way, such as bankruptcy, or the breakdown of a relationship.  

One practical, effective way to do this is to set up a Trust, specifically designed to receive death benefits from pension schemes. 

The NHS Pension and any separate private pensions exist primarily to provide for your retirement. However, these pensions can also provide valuable benefits for your dependants, should you die at work, or before you reach age 75. Your pension could be a significant sum of money. 

You may have already named your partner as the person to receive pension benefits, should you die at work or before age 75, but you might not be aware that these proceeds then count towards their estate.  

So, when they die, this could potentially create or increase the amount Inheritance Tax or IHT owed. Your loved ones could face a potential loss of up to 40% of assets over the nil band of £325,000. 

Other causes may result in 100% of your death benefits going where you wanted them to.  

We can offer access to our Asset Preservation Trust, which is free of charge.  

The Legacy Preservation Trust is specifically set up to avoid some of the most severe financial problems that can happen after your death.

So that we can work out if this service suits you, we recommend a face-to-face, one-to-one review of your personal situation, and what you would want to happen after you die. It is both practical and reassuring for everyone to have a detailed plan in place, so that your family know your wishes. And you know that as much of your money as possible is ending up in the right hands.  

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances. 

Trusts are not regulated by the Financial Conduct Authority. 

Got a question?

If you would like to speak to us about something particular, or wish to find out more about the specialist medical advice services we can offer, please get in touch.