Daily Telegraph: If your pension is worth more than £1.25m you face a penalty. But new rules on the 'death tax' mean you may be better off ignoring the limit.
Full story: http://www.telegraph.co.uk/finance/personalfinance/pensions/11148098/1.25m-lifetime-pensions-limit-End-of-death-tax-means-you-may-be-able-to-ignore-it.html