SIPPs

EdInvestor

Klondyke

I gather that under new rules, they still haven't decided what, if any, IHT charge there would be on the pot value after age 75. I suppose we're best sitting on our hands for the moment or should he establish thIe mysterious ASP ASP (!) - any views from the experts?

You gather right AFAIK at present, the small print's not yet written. It appears the money can be left to heirs within a "family SIPP" , presumably after a tax deduction of IHT.

Still better than giving it to an insurance co - at least it means the kids will start off with a basic pension already in hand, so they can divert pension contributions to other necessary spending such as student debt and a house.

Also means parents needn't feel guilty about taking equity release if they need it - the kids get the pension instead.:)

klondyke

Thanks for the response. Wondered if I'd been missing some small print somewhere.