Pension: how your pension could help you reduce inheritance tax to zero | Personal finance | Finance

However, the government-backed MoneyHelper website says there is one key rule to keep in mind.

For the pension to fall outside the scope of the IHT, the scheme administrator should be able to decide to whom the benefits are paid.

Fortunately, however, it can be a relatively easy process to follow as long as it’s done with enough time.

Individuals can usually submit an expression of wishes form, which allows the person to tell the plan to whom they want the death benefit paid.

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