A pension beneficiary is the person or people you nominate to receive your pension benefits if you pass away. This could be a spouse, partner, family member, or even a friend. Your nomination helps ensure that your pension is distributed according to your wishes.
Life changes and so can your circumstances. Marriage, divorce, new relationships, or the arrival of children can all affect who you might want as your beneficiaries. If your details are out of date, your pension might not go to the person you would choose today. Keeping your beneficiary information current gives you peace of mind that your pension will be passed on as you intend.
Many people forget to update their beneficiaries after:
Marriage or civil partnership;
Divorce or separation;
Having children or grandchildren;
The passing of a previously named beneficiary.
These oversights can lead to disputes or delays when it comes to releasing pension funds to loved ones.
With Pension App, you can add or update your beneficiaries directly within your online account. This means you can make changes quickly without paperwork or lengthy processes. We recommend reviewing your beneficiary information regularly, especially if you have experienced a major life change.
Updating your beneficiaries in your Pension App is secure and straightforward. Your information is stored safely, and you can check your nominations any time you log in.
At Pension App, we believe that pension management should be simple and accessible. Making sure your beneficiary information is accurate is one of the easiest steps you can take to keep your retirement planning in order.
With pensions, your capital is at risk.