No Nominated Beneficiary on Death Pension Flexible Drawdown
Published / Last Updated on 23/08/2019
**Pensions Now Included in Estate for Inheritance Taxes in UK w.e.f. 06/04/2027**
So be careful when leaving pensions to anyone other than your spouse/civil partner e.g. children.
Nominating beneficiary on death when in flexible drawdown.
If there is a nominated beneficiary then the pension fund can be paid out to loved ones as whole lump sum or as flexible drawdown.
If there is no nominated beneficiary but there are financial dependents then the pension scheme trustees decide who benefits and pension fund can also be paid out to loved ones as whole lump sum or as flexible drawdown.
If there is no nominated beneficiary and no financial dependents then the pension scheme trustees decide who benefits and pension fund can only be paid out as whole lump sum.
