IHT only applies if the pension company has to pay the value of your scheme to your estate, in which case it becomes like any other asset, but generally the pension pot is held in a discretionary trust, which means it isn’t taxed on death.
You can now nominate anyone not just dependents to be the beneficiary.
Since 6th April 2015 anyone who inherits a pension fund from a person who dies before the age of 75 is entitled to receive it tax free and the you can take the money as a lump sum or income. Once over 75 a special tax of 45% applies (previously 55%), you could reduce this by taking a regular income.
From 6th April 2016 the 45% tax is likely to be scrapped and income tax rates will be applied.
The BBC website has a useful post which explains the changes in 10 questions, click here to read it
steve@bicknells.net
Business Accountant 
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