Three quarters of pension savers have no 'pension will' in place

'Nomination saves time and angst'

Julia Bahr
clock • 2 min read

Three quarters (72%) of the UK's pension savers have never completed an expression of wish form, which nominates beneficiaries in the event of their death, according to recent research from Canada Life.

Among those aged 55 and over, 71% say they have not completed one of these ‘pension wills', the data showed. An up-to-date expression of wish form is held by the pension company, and in the event of a customer's death, it will help distribute the pension quickly and efficiently, according to Canada Life. The absence of an expression of wish form could result in delays to any beneficiaries receiving the pension, or worse still the potential for unintended beneficiaries receiving the pension. Andrew Tully, technical director at Canada Life said:"A huge number of UK workers have been ...

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