Britons are being urged to plan the use of their pensions more effectively before Rachel Reeves’s inheritance tax raid comes into force.

In her first Autumn Budget, the Chancellor announced that from April 2027, defined contribution (DC) pension pots will be included in inheritance tax (IHT) liabilities, with nil-rate bands frozen until 2030.

This change could affect thousands of estates, with the Office for Budget Responsibility estimating that an additional 10,500 estates will become liable…