Ep 509 - Pension IHT changes, How much do you need to retire & Credit file hack
In this week's show Damien explores the proposed changes to Inheritance Tax (IHT) on defined contribution pensions, set to begin in April 2027. He also discusses strategies that could be used to mitigate the potential impact. Next, he takes a look at how much money you'll need in retirement in order to achieve a minimum, moderate and comfortable lifestyle. Finally, Andy explains how you can use a 'Notice of Correction' to improve your chances of securing credit if you have any negative marks on your credit report.
Check out this week's podcast article on the Money to the Masses website to see the full list of resources from this week's show
(00:00) - Money to the Masses Podcast Episode 509
(05:50) - Proposed Changes to IHT and the Implications
(07:42) - Strategies for Mitigating Inheritance Tax
(09:16) - Gifting and Charitable Contributions
(11:32) - Gifting from Income Exemption
(13:49) - Life Insurance and Other Mitigation Tools
(15:03) - Conclusion and Future Considerations
(16:12) - How much do you need to retire? Minimum, Moderate and Comfortable pension lifestyles revealed
(21:18) - Navigating Retirement Planning
(22:40) - Credit File Management and Notices of Correction
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Links referred to in the podcast:
- IHT Gifting Exemptions (and how they work)
- Aberdeen Briefing Notes on IHT/Pensions
- How to find a good financial adviser you can trust
- Try out our free pension calculator
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