Autumn Budget 2024: Implications for the LGPS from inheritance tax changes

Despite the frenzied pre-budget speculation, this week’s budget was relatively short on direct pension related matters. However, there were a few items that are likely to be of interest to LGPS funds.

In this briefing note, we consider the Government’s consultation to bring unused pension benefits and death grants in scope for inheritance tax purposes, which will likely have the biggest impact on administration of those benefits.

We also take the opportunity to look at one or two other items of LGPS-related small print and consider what
they might mean for the Scheme.

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