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What will happen to my pension if I die?

If you die before you withdraw money from your pension, we’ll use any named beneficiaries to help us decide who we should pay. A beneficiary is someone you’ve named to receive the money from your pension when you die.

Payments to beneficiaries are usually tax-free if you’re under 75, and the money’s paid within two years.

If you’re 75 or older, your beneficiaries may have to pay income tax on the amount they receive.

If you haven’t added any beneficiaries, or you haven’t allocated 100% of your pension, any money that’s left over will normally become part of your estate.