If you pass away your pension funds will be transferred to any financial dependants or the beneficiaries of your estate.
When you die, your pension doesn’t just disappear. It may provide benefits to any financial dependants – such as children – or go to the beneficiaries of your estate.
Exactly what benefits are paid out depend on the types of pension scheme that you have, and the age you die. To find out more, speak to your pension provider about exactly what they would provide.
Brookson Advice:
To ensure that your pension provider knows your exact wishes should you pass away, you need to complete a ‘nominated beneficiary form’ for all the pensions you have.