We recently ran a campaign to remind you of the importance of keeping your Expression of Wish up to date. An Expression of Wish is a vital document that lets you specify who should receive any lump-sum benefits from the Plan when you die.
Why telling us your wishes is important
Your pension is more than just a financial plan for your retirement, it’s a lasting gift that can provide financial security for your loved ones after you’ve gone. It’s one of the most significant ways you can continue to care for those who matter most to you, even when you’re no longer there.
By completing an Expression of Wish form, you have the power to clearly communicate to the Trustee who you would like to receive any lump-sum benefits from the Plan in the event of your death. These benefits are paid at the Trustee’s discretion, which means they are not subject to inheritance tax. While the Trustee is not legally required to follow your wishes, they will take them into consideration when making their decision.
If you are a Defined Contribution member of the Plan, find out more about the importance of updating your wishes and how to do it here.
If you are a Defined Benefit member of the Plan, find out more about the importance of updating your wishes and how to do it here.
Not sure what type of member you are? Use our tool to help you identify your membership type.