Expression of wish: Keep it simple to avoid 'nomination nightmare'

Over the last two months, the James Hay technical support unit has been inundated with enquiries on the thorny issue of nominating beneficiaries. Now nominations are nothing new, members have been able to nominate dependants to receive pension death benefits and beneficiaries to receive a lump sum. So why so much confusion with the flexibility now provided under the new pension freedoms? The simple answer is different pension providers are giving advisers different views on what can and cannot be done. Further reading: Death benefits case study It is one of these crazy situa...