IHT on pension pots under existing rules

Clocktower25

Over the years I have built up DC pension pots in various personal, executive and SIPP pensions.
Under the existing (pre. April 2027) IHT rules are all undrawn pensions pots excluded from IHT or do they need to have been put in a trust with the pension provider?

Albermarle

They will all be held in trust by the pension providers already. 

Dead_keen

The only time they will be in your estate for IHT purposes if you have a “general power”, meaning a power or authority enabling the person by whom it is exercisable to appoint or dispose of property as he thinks fit - s5(2) IHTA

It is rare for a UK pension scheme to be within scope of IHT because the designers of the pension scheme will have done their best to make sure it doesn't.  A US pension scheme might though.

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DRS1

I think there may be an issue where you do not nominate a beneficiary for the pension if you die.  In that case the pension might be paid to the estate and then be subject to IHT.  At least I think that is what is suggested when they are encouraging you to complete the nomination form.