Should I take my pension lump sum before I turn 75 to cut my tax bill?

In our weekly series, readers can email in with any questions about retirement and pension savings to be answered by our expert, Rachel Vahey, head of public policy at investment platform AJ Bell. There is nothing she does not know about pensions. If you have a question for her, email us at money@theipaper.com. Question: I know that 25 per cent of my pension pot is tax-free and that pensions will soon form part of your estate for inheritance tax purposes. My understanding is that if I die after I turn 75, whoever gets my pension will need to pay income tax when they take money from it – as well as inheritance tax when they receive it – but if I die before I turn 75, they won’t. Would it therefore be a good idea to take the 25 per cent tax-free part before I turn 75 so that my family who in