Most of us want to plan our finances so that the tax burden is lessened on either yourself, or those you’ll be passing your estate onto in the future. Pension funds can be a good way to extend your tax efficiency.
Why? Because, unlike Inheritance Tax bands which have been rising steadily but have failed to keep pace with house price inflation, pensions can be inherited tax-free.
However, there are some rules and regulations you need to be aware of.