3 Your beneciaries
Please read this section carefully before choosing your option.
If you were to die at any time, we’d look to pass on any money you have in your plan. To help us do this, you need to tell us how
you’d like to pay any money in your plan and who you’d like to receive the money.
You have two options over how you’d like us to pay any money in your plan on your death. Here we’ve set out the main
differences between both – all you need to do is pick the option that feels right for you.
Option 1 –At our discretion as
scheme administrator
Option 2 – At your direction
How would the money be paid on
your death?
While we’d look to follow your exact
wishes, we’d have the option to adjust
who receives the money on your death if
we felt it was appropriate to do so. For
example, if your personal circumstances
had changed since you last updated your
death benefit nomination.
We’re legally obliged to follow
your exact wishes, even if your
circumstances have changed at the
time of your death.
Can my spouse choose to give the
money to our children rather than
take the savings themselves?
Yes, but we can only offer beneficiary
drawdown as an option to people who
are either dependants of yours or who
you have named on the form below. So
if your children aren’t dependent on
you, you’ll have to name them below. You
don’t need to give them a proportion,
but naming them allows them to have
more flexibility when they come to
taking your pension savings.
No
Would the money normally be subject
to inheritance tax?
No Yes
Can I change who I’ve nominated
to receive the money if I die?
Yes, at any time. Yes, at any time.
Can I change how I’d like the money
paid if I die?
No – you can’t change to Option 2. Yes – you can change to Option 1 at
any time.
Using the tables below, tell us how you’d like to pay any money in your plan and who you’d like to pay any money in your plan.
Option 1 – At our discretion as scheme administrator
Full name Relationship Allocation
Total N/A 100%
Option 2 – At your direction
Full name Connection to me Proportion %
Total N/A 100%
Need more space? If you’d like to list more than six names or give us additional information please tick the box and provide the
details in section 4.
When we’re notified of your death, we’ll explain to your beneficiaries the different ways in which pension savings can be paid to
them. We only use this information to pay the pensions savings in the event of your death. Please make sure your beneficiaries
are aware of how we use their information. Remember that when you’re choosing, you can’t choose who any remaining money
can be paid to when your beneficences die.
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Date
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