One retiree aired their grievances in a letter directly to the Chancellor, claiming she stole their chance at a happy retirement
The Chancellor’s Autumn Budget changes have been dredged back into the spotlight after a retiree slammed the impact of her inheritance changes. Although these changes will only come into force from April 2027, some are scrambling to adapt their plans as previously tax-free loopholes have now been closed.
The 69-year-old gave the Chancellor an insight into their life after studying hard at school, being the first in their family to attend university and enjoying a “long and successful” career in science. They were lucky enough to retire at 60 thanks to wise planning and saving when they started feeling “worn out” by their demanding job.
On top of this, due to technicalities around how pension pots are currently inherited, their beneficiaries would also face an additional £360,000 income tax bill on their inheritance. The writer claims Reeves had hidden a “sinister” threat behind this pension pot raid noting that the seemingly easiest way to mitigate this and leave £800,000 more behind would be to die before April 2027.
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