Make sure your paperwork is up to date or there could be confusion over who the beneficiary should be.

​Pension savers are being warned to regularly update the documents that say who should get money from their pension pot if they die.This is because families are increasingly challenging decisions made by pension scheme trustees following the death of a member. It falls to trustees of the scheme to make such decisions, but where the savers’ intentions were not clear, disputes arise over who should be recognised as beneficiaries. The issue primarily involves those belonging to company pension schemes where benefits are linked to their salaries. With these, workers paying in should be asked to fill in an “expression of wish” form. This indicates who would receive the pension benefits if they were to die. Trustees must take members’ wishes into account, but do not have to follow them if they decide another solution is more appropriate or if, for instance, the scheme rules do not permit those wishes to be carried out.....Read more here