Inheritance Tax on Pensions – How to make sure your Spouse gets your Pension Tax-Free if you pass away

Recent changes in the Finance Act December 2022 now mean a PRSA Pension is the better way to structure your Pension so that your Spouse inherits your Pension Tax Free in the event of your untimely death. Currently most Company Directors have Executive Pension Schemes. In the event of your untimely death Executive Pension Schemes in most cases pay a lump sum to a spouse of no greater than 4 times your salary from the pension, with the balance assessable …