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 ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

FCA data reveals 'notable advice gap' in drawdown

FCA data reveals 'notable advice gap' in drawdown

Almost half of pots entering drawdown now do so without regulated advice

Sophia Panayi
clock 24 September 2026 • 2 min read
Action 'needed now' on salary sacrifice to minimise disruption

Action 'needed now' on salary sacrifice to minimise disruption

LCP says early preparation will help employers navigate the transition

Jonathan Stapleton
clock 24 September 2026 • 2 min read
Self-employed face retirement saving 'obstacle course'

Self-employed face retirement saving 'obstacle course'

‘Structural gap’ in participation between employees and self-employed

Martin Richmond
clock 22 September 2026 • 4 min read