IHT High net worth clients must now consider inheritance tax planning and pension income in conjunction to ensure they receive maximum retirement benefits without a huge tax bill.

For those of us involved with estate planning, pensions have become an ever-increasing part of the process. And since April 6, 2011, the most effective strategy to minimise inheritance tax (IHT) appears to be to use non-pension assets for living expenses up until age 75, and then crystallise pension benefits.

With annuity rates set to fall and drawdown products still unexplored, retirees should look to scheme pension for a flexible and low cost alternative of income generation

What is the optimum method of taking income from a pension? At a time when pension rules and the market are undergoing more upheaval, there is no quick and easy answer.

Misconceptions about what happens to assets after death leave many people uncompelled to make a will, but as well as securing their estate it can also help reduce taxes