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        {
            "id": "p6.1",
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            "bbox": {
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            "text": "Retirement Planning: Turning Your Savings into Income",
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            "order": 2,
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            "text": "Could Your Pension Affect Your Residence Nil Rate Band?",
            "attrs": {
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        {
            "id": "p6.3",
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            "bbox": {
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            "text": "Building up your pension is just one part of the journey. As you get closer to retirement, the focus naturally shifts to how those savings can provide a reliable income for the years ahead."
        },
        {
            "id": "p6.4",
            "order": 4,
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            "text": "For many people, the key isn't just how much you've saved, but how to use those savings to support the lifestyle you want in retirement."
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            "text": "Your income may come from a mix of sources - such as the State Pension, workplace and personal pensions, Individual Savings Accounts (ISAs), investments, property income, and cash savings. Bringing these together in a coordinated way can help provide flexibility, stability, and peace of mind throughout retirement."
        },
        {
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            "text": "Understanding Pension Drawdown",
            "attrs": {
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        {
            "id": "p6.7",
            "order": 7,
            "type": "text",
            "bbox": {
                "l": 325.1754,
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            "text": "Many people now choose a flexible approach to retirement. Pension drawdown lets you keep your money invested while taking income as needed."
        },
        {
            "id": "p6.8",
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            "type": "text",
            "bbox": {
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            "text": "While this offers greater control, it's important to consider things like investment performance, how much you can withdraw, inflation and how long your retirement may last. Different savings, such as pensions and ISAs, are also taxed differently, so taking a tax-efficient approach can help your money go further."
        },
        {
            "id": "p6.9",
            "order": 9,
            "type": "text",
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            "text": "Alongside the upcoming Inheritance Tax changes, it's also important to consider how your pension could affect your Residence Nil Rate Band (RNRB). This is an extra Inheritance Tax allowance available when your home is passed on to children or grandchildren."
        },
        {
            "id": "p6.10",
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            "type": "text",
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            "text": "While many people think of this threshold in terms of property and investments, pension savings may also become relevant from April 2027. Currently, pensions are usually excluded when calculating the value of an estate for Inheritance Tax. However, under the proposed changes, most unused pension funds may be included."
        },
        {
            "id": "p6.11",
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            "text": "This means some individuals who are currently below the £2 million threshold could exceed it once pension assets are taken into account - potentially reducing the amount of RNRB available."
        },
        {
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            "attrs": {
                "block_label": "image",
                "embedded_text": "£2M\nThe RNRB starts to reduce once your\nestate exceeds £2 million, decreasing\nby £1 for every £2 above this level."
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            "text": "Pensions and Inheritance Tax: What's Changing in 2027?",
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            "text": "Bringing Planning Together",
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        {
            "id": "p6.15",
            "order": 15,
            "type": "text",
            "bbox": {
                "l": 33.3575,
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            "text": "Pensions aren't just for retirement-they've also been a useful way to pass on wealth. In the past, unused pension funds could often be left to loved ones in a tax-efficient way."
        },
        {
            "id": "p6.16",
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            "text": "From 6 April 2027, this is expected to change, with most unused pension funds and death benefits likely to be included as part of your estate for Inheritance Tax purposes."
        },
        {
            "id": "p6.17",
            "order": 17,
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            "text": "This means pensions could play a bigger role when looking at the overall value of your estate. For those with larger pension savings, it may become more important to consider how pensions fit alongside other assets, such as property, investments and existing estate plans."
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            "id": "p6.18",
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            "text": "As a result, retirement and estate planning are becoming more closely linked, making regular reviews more important than ever."
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            "id": "p6.20",
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            "text": "Financial plans naturally change over time, as your family circumstances, goals, assets and the rules around them evolve."
        },
        {
            "id": "p6.21",
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            "type": "text",
            "bbox": {
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            "text": "While the Inheritance Tax treatment of pensions is expected to change, there are still a range of valuable allowances and exemptions available. For example, transfers between spouses and civil partners are generally exempt and it may be possible to pass on unused allowances. The Nil Rate Band and Residence Nil Rate Band also continue to play an important role, depending on your circumstances."
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            "id": "p6.22",
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            "text": "Taking a joined-up approach to your planning can help ensure everything continues to work together effectively over time."
        },
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            "text": "Regular conversations with your financial planner can help ensure everything remains aligned and continues to support the lifestyle you have in mind, now and in the future."
        },
        {
            "id": "p6.24",
            "order": 24,
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            "text": "The RNRB starts to reduce once your estate exceeds £2 million, decreasing by £1 for every £2 above this level.",
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            "text": "10",
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            "text": "Summer Newsletter 2026",
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            "text": "Summer Newsletter 2026",
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