Expression of wishes forms promotion needed

28 April 2022

The importance of promoting completion of pension expression of wishes, or pensions will, forms has been underlined by new research from Canada Life.

The findings showed nearly three quarters (72%) of UK adults have never completed a pension will via an expression of wish form, which nominates beneficiaries in the event of their death.

Among those aged 55 and over,  71% said they have not completed a pension will.

Canada Life warned that failing to do so, could result in delays to any beneficiaries receiving the pension and opens the potential for unintended beneficiaries to receive the funds.

Andrew Tully, technical director at Canada Life, said: “A huge number of UK workers have been auto-enrolled into pensions over the past few years so it’s both surprising and concerning more people either haven’t completed a pension will or perhaps can’t remember having done so.

“The expression of wish provides a valuable piece of evidence when the trustees are trying to establish the right beneficiaries to receive the money. Having an up-to-date form lodged with your pension company makes sure the company knows who you would like to benefit should you die.

“It may seem something you can put off to another day but the expression of wish form should only take a few minutes to complete.”

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