In our weekly series, readers can email in with any question about retirement and pension savings to be answered by our expert, Tom Selby, director of public policy at investment platform AJ Bell. There is nothing he does not know about pensions. If you have a question for him, email us at money@inews.co.uk.

Question: Because the favourable inheritance tax (IHT) regime is now ending, I am considering whether to reduce the amount in my pension and look at alternatives. My understanding is that I can take 25 per cent tax-free from my pension at any point and then the remaining pot is taxed on withdrawal at marginal rates. We do not need the cash immediately as we have other resources to call on and our ISAs produce a regular income. But given the pending change in IHT treatment, I a

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