Pension savers need to consolidate scattered pension pots into one place to prevent an admin nightmare for their families after new inheritance tax (IHT) rules come in next April, warn experts at Evelyn Partners. Even if pots are not consolidated, it is vital that pension holders keep records of all their disparate pots to prevent meltdown for estates.

The pension pot tax will see personal representatives (PRs) - the executor where this a will, administrator where there is no will or it is invalidated, and solicitors appointed by families - responsible for paying tax on the pension assets at 40% IHT rate.