Death

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 …

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My Online Account doesn’t allow me to include a backup nominated beneficiary if my nominated beneficiary/beneficiaries die. How do I give you this information?

  Currently your Online Account doesn’t allow for nominations to be split in this manner, so you can only provide …

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Do I need to include my pension specifically in my will?

  No, it isn’t necessary to specify your pension in your will.

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Why do some death benefits have to be paid in trust?

  The most common scenario is where the deceased left children under the age of 18 and any death benefit …

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What happens if you can’t find my beneficiary in the event of my death?

  B&CE is a non-profit making organisation dedicated solely to the financial wellbeing of our members and their dependants. We’ll …

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My children are well-off. Can my pension pot go to my grandchildren instead, with no inheritance tax applying?

  Yes, your grandchildren can simply be nominated as beneficiaries.

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Can I nominate my partner/spouse to receive an income after I die?

No, if you were to die before taking your benefits, the value of your pension pot would be paid as …

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I’ve nominated my two young children as beneficiaries. If I die and they’re still under the age of 18, how do you pay out my death benefits?

  If your beneficiaries are under the age of 18 (known as minors), the lump sum will be held in …

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What’s a Trust?

  A Trust is a legal arrangement where one or more people or a company (called the Trustees) controls money …

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What paperwork do you require in the event of a death claim?

For all death claims we’ll need to see the original death certificate. In addition, depending on circumstances, we may also …

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