AJ Bell CEO cautions chancellor over proposed pension IHT changes

Michael Summersgill says proposals risk 'fundamentally undermining' UK pensions system

Linus Uhlig
clock • 3 min read
Michael Summersgill (pictured), CEO of AJ Bell
Image:

Michael Summersgill (pictured), CEO of AJ Bell

Plans announced in the Autumn Budget to levy inheritance tax (IHT) on pensions are “complex and costly” and risk leaving beneficiaries with increased costs prior to receiving their pension income, AJ Bell chief executive (CEO) Michael Summersgill has warned the Treasury.

In a letter seen by Professional Pensions' sister title Investment Week, Summersgill wrote to the chancellor and said "applying IHT to pensions creates delays for beneficiaries, will be costly and ...

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