I’ve named a beneficiary but I’ve been told that my nomination isn’t legally binding on the Trustee. If the Trustee decides not to pay out my pot to my beneficiary, who else would they pay it out to?

The payment of a fund on death is at the absolute discretion of the Trustee. In the event of your death the Trustee will make enquiries into potential beneficiaries, for example whether you’ve left any dependants. The Trustee will carefully consider your personal circumstances and the wishes you’ve expressed on your nomination form.

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