Expression of wishes
You can choose who you’d like to receive your pension when you pass away, normally by completing an expression of wishes instruction. We explain how this works, what you need to consider, and how to easily complete it with ii.
What is an expression of wishes?
An expression of wishes tells your pension provider who you’d like to receive your pension when you pass away.
Usually, your pension provider (known as a trustee) will use its discretion to decide who will receive your pension. They will consider your wishes, and often follow them, but they aren’t legally bound to do so.
You should be given the opportunity to complete an expression of wishes when you first open your pension. But, if you didn’t, you can complete one at any point by getting in touch with your provider.
You might also see an expression of wishes referred to as a ‘letter of wishes’, ‘nomination of beneficiaries’, ‘nomination of wishes’, or simply a ‘nomination form’.
Why is an expression of wishes important?
Completing your expression of wishes will help your pension provider process your pension quicker when you pass away.
But it can also help your estate keep pace with an ever-changing tax landscape.
For example, from 6 April 2027, most of your leftover pensions will be included in the value of your estate for inheritance tax (IHT).
A pension could be one of your biggest assets, and if any pension savings you leave behind go to your spouse, civil partner, or a charity it will still be exempt from IHT under the incoming changes.
So, keeping your expression of wishes up to date will ensure your pension provider is considering your most recent wishes in light of new tax rules.
How to add or update an expression of wishes with ii
- Log into your account and select ‘Pension‘ then ‘Benefits‘ and then ‘Expression of Wishes‘ before hitting ‘Continue‘
- Select ‘Add your first beneficiary‘ or ‘Update your wishes’
- Follow the instructions
- Once you’ve finished adding or updating your expression of wishes, select ‘Submit‘
- You'll receive a confirmation message confirming your instructions have been successfully recorded
Why is it important to keep my expression of wishes up to date?
Keeping your expression of wishes up to date is important, especially if your circumstances change. For example:
- Life changes - Marriage or civil partnership, divorce or separation, or the birth or adoption of a child
- Changes affecting your beneficiaries - If a beneficiary dies, or they are no longer dependent on you, or their details change, such as their name, address, or identity/gender
- Financial changes - Any significant changes to your financial arrangements, such as an income change or retirement
Many pension providers let you complete an expression of wishes online or by using an official channel. These processes are designed to collect your preferred beneficiary's key details to help your pension provider consider your wishes, while ensuring everything is completed in line with its scheme rules.
Using these channels is often one of the best ways to update or create a new expression of wishes.
Who can I nominate as a beneficiary?
You can nominate anyone you like in your expression of wishes. This can include:
- Individual - Like your spouse or civil partner, children or grandchildren, and other family and friends
- Charity - A UK registered organisation operating for charitable purposes
- Trust - A legal arrangement managed by a trustee for the benefit of one or more beneficiaries
It's also worth knowing that you have no control over how your beneficiaries will use or pass on your pension funds. For example, you can’t specify for you pension to go to your daughter and eventually your grandchildren.
How many beneficiaries can I name?
There's no limit on the number of beneficiaries that you can add to your expression of wishes.
This gives you flexibility to share your pension with wider family members, friends, or a few different charities if you wish.
If you're considering adding multiple beneficiaries to your instruction, check with your provider to make sure your wishes are recorded clearly.
Can a pension provider go against my expression of wishes?
It would be unusual for a pension provider to go against your expression of wishes, but it is possible. This is more likely to happen when:
| Instance | Example |
|---|---|
| If your circumstances change and this isn’t reflected in your expression of wishes | One of your beneficiaries passes away |
| A nomination is unclear or incomplete | Your beneficiary’s details, like name or date of birth, are missing. Completing your expression of wishes through an official channel minimises the chance of this happening |
| There are dependants or legal factors to consider | You planned on passing on your pension to a close friend, but you’ve since had children who rely on you financially. Pension providers always put the needs of surviving financial dependents before other individuals |
*Please note this isn't an exhaustive list of examples.
Pension providers need to show that they use discretion but also that they have a duty of care.
In addition to considering your expression of wishes, they may check your Will, make enquiries about your marital status, and see whether you have any financial dependents.
This could involve conversations with your family as well as the executors of your Will.
If it's considered that you have financial dependents who haven’t been adequately provided for, your pension provider could pass your pension on to these beneficiaries instead - regardless of what your expression of wishes states.
Still, overruling your expression of wishes is rare, and it's not a decision that is taken lightly.
Expression of wishes FAQs
Yes, you can update your expression of wishes at any time. It’s a good idea to review it regularly, especially after major life events such as marriage, divorce, having children, or a bereavement.
Please note that any changes made will replace your existing instructions.
It would be rare for a pension provider to accept binding instructions about who should receive your pension when you die.
Trustees or providers usually need to retain discretion over who receives death benefits so they can make decisions based on your circumstances at the time of death, while also complying with the scheme rules and regulatory requirements.
Rest assured that your expression of wishes is important and will still be taken into account when making any decisions.
An expression of wishes form will relate to any unused funds in a defined contribution pension when you die. That includes pots that you have not touched and pots that you have started taking income or lump sums from.
If you used the proceeds of your pension to buy an annuity, that would not be covered by an expression of wishes form. Normally annuity payments cease when the policyholder dies, unless it’s a joint plan or you have purchased additional guarantees.
If it isn’t possible to pay your pension to your intended beneficiaries, your pension provider will need to use its discretion to work out who should receive the money instead.
It would normally look to your will and talk to your family to work this out.
Some pension providers will let you name additional beneficiaries on your expression of wishes, to give your pension provider some ‘back up’ choices if it’s not possible for your money to go where you had initially planned.
While you can use your Will to say who should get assets like your property or your share portfolio, it’s not the place to say who gets your pension. Although the value of most pensions will be included in the value of your estate for IHT purposes from 6 April 2027, they will continue to pass outside of your Will so it will still be important to keep your expression of wishes up to date.
Usually, your pension provider will have discretion to decide the beneficiaries of your SIPP, but they’ll consider your wishes as part of that decision.
How can Pension Wise help?
If you’re thinking about retiring soon and want to understand your options, make sure you speak to someone at Pension Wise.
Pension Wise is part of the government’s Money Helper service, offering free and impartial pension guidance to the over-50s. They can also help you decide if transferring your pension is the right choice for you.
