Expression of Wishes
Tell us who you would like your beneficiaries to be
Expression of Wishes
SIPPs and SSASs are known for their flexibility, and one of the key features is the ability to pass on your pension wealth when you pass away. However, the ability to distribute the pension as you intend is dependent on keeping an up to date Expression of Wishes in place.
An expression of wishes is your way of telling your scheme administrator who you would like your beneficiaries to be.
The scheme administrator has the final say over who receives the assets in your pension when you pass away. This is part of the structure which allows your pension to stay outside of your estate for inheritance tax purposes. However, the scheme administrator still wants to distribute the death benefits in the way you would have wanted.
It is critical that you keep your expression of wishes up to date and review this regularly to ensure that your intentions are clear to Curtis Banks as to how you would like your pension distributed when you pass away.
Nominating beneficiaries
A beneficiary is any person (or charity, trust, organisation etc.) who may be able to receive death benefits from your pension.
There’s no limit to the number of beneficiaries you can name for your pension.
You can update your expression of wishes as often as you like. In fact, it’s very important that you keep your expression of wishes up to date as and when your circumstances change.