72% of Britons risk pension beneficiary delays
Almost three quarters (72%) of UK adults have never completed an expression of wish form for their pension.
The absence of an expression of wish form could result in delays for any beneficiaries receiving a pension following the death of the pension holder.
A lack of expression of wish form also risks the potential for unintended beneficiaries receiving the pension.
Among those aged 55 and over surveyed by Canada Life, 71% had not completed an expression of wish form.
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 an up-to-date form lodged with your pension company makes sure the company knows who you would like to benefit should you die.
“The expression of wish provides a valuable piece of evidence when the trustees are trying to establish the right beneficiaries to receive the money.”
Canada Life surveyed 2,000 UK adults with fieldwork by Opinium between 4 and 8 March 2022.
From Financial Planning Jobs. For more click on any job.
-
Financial Planner - home based/UK wide - £60k+
Financial Planning Jobs Read more... -
Financial Adviser - London/South East - To £70k
Financial Planning Jobs Read more... -
Senior Financial Adviser - £65k-£75k - Bucks
Financial Planning Jobs Read more...
This is a selection of jobs from our new Financial Planning Jobs site - for more job vacancies click on any job or the link below.
Financial Planning Jobs https://jobs.financialplanningtoday.co.uk/