7 Days is a weekly round up of developments in pensions, normally published on Monday mornings. We collate this information from key industry sources, such as the DWP, HMRC and TPR.
In this 7 Days
HMRC issues second technical note on IHT and pensions
On 27 August 2026, HMRC issued a second technical note with further information about the forthcoming reforms to the IHT treatment of pensions. It provides more information about:
- notional pension property (unused pension funds and pension death benefits) and how it will be treated for IHT purposes
- information sharing requirements
- withholding notices and operation of the process
- pensions direct payment scheme notices and operation of the process, and
- clearance.
HMRC plans to continue to publish secondary legislation, guidance and supporting materials ahead of implementation in April 2027.
HMRC publishes pension schemes newsletter 184
On 27 August 2026, HMRC published pension schemes newsletter 184. It includes information on:
- the technical consultation on draft regulations which will provide transitional tax provisions in connection with the increase in NMPA from age 55 to age 57 from 6 April 2028
- non-statutory clearances
- disposal of non-standard or ‘toxic’ assets from registered pension schemes
- the ‘low earner’s pension payment’ (which helps to ensure how earners achieve similar outcomes whether their workplace pension scheme operates relief at source or a net pay arrangement)
- the latest personal pension statistics
- pension savings statements, and
- DB scheme surplus payments to members.
