As part of our recent campaign, we want 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 your pension plan if you pass away.
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 have DB benefits, the easiest way to update your information and Expression of Wishes is through the Gallagher Member Portal.
If you have DC benefits, you are currently unable to update your personal details through MyWorkplace. To update your Expression of Wishes you'll need to complete an Expression of Wishes form. If you're an active member of the DC Plan, you will soon be able to update your Expression of Wishes via 'Workday'. We will contact you once this functionality is available.
Please note: from April 2027, your pension may be included in Inheritance Tax. Find out more in the ‘Autumn Budget and your pension’ section.