A workplace pension, a personal pension or a retirement savings account doesn't simply vanish when you die. In many plans the money can go to the people you've nominated. The provider won't pay it out unprompted, though. Someone has to contact them, and to do that they need to know the plan exists.
What to write down
- the type of plan, for example workplace pension or personal pension,
- the name of the provider that runs it.
For a workplace pension, the employer's name is a good start, since the employer chose the provider. If you've changed jobs, list each old pension separately: old pots don't merge on their own.
Check who you nominated
Most providers let you name who should receive the money, often on an expression of wish form. That form may have been filled in years ago and no longer fit your family. While you write the note, check it with the provider and add who is named.
Rules differ between countries and between types of pension, so treat this as a list of what to record, not as advice on what your family will receive.
In the app: Banks and Financial Institutions, then Retirement Accounts.
