Do you know who will inherit your pension when you die? Do you know how many retirement policies you have and where all your paperwork is? Have you ever updated an "expression of Wishes" form?
Figures recently realeased show that more than 750,000 savers are at risk of leaving their pension to the wrong person, such as a former boyfriend or an ex-wife, simply because they have failed to update paperwork after they have split up.
Pension Schemes typically have an "expression of wishes" form that allow members to name the person they want their benefits to go to when they die.
This beneficiary, can be anybody who is designated at the time and does not need to be a current spouse or partner but indeed, may be a partner at the time, a friend, a flatmate, or somebody with whom the person lived with decades ago.