Individuals taking pension lump sums early hits 116,000 as IHT fears bite

Up from 110,000 the previous year

Isabel Baxter
clock • 3 min read
Individuals taking pension lump sums early hits 116,000 as IHT fears bite

With inheritance tax (IHT) coming into the scope of pensions from April 2027, 116,000 individuals made lump-sum withdrawals from their pensions as soon as they could in the last year.

A Freedom of Information Act request from Lubbock Fine Wealth Management (Lubbock Fine) revealed that 116,000 of people aged 55 took out their tax-free cash, up from 110,000 the previous year and a...

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