What happens to my pension when I die?

What happens to my pension when I die?

When you die, your spouse or civil partner will receive a pension from the Bradford & Bingley Staff Pension Scheme. If you do not have a spouse or civil partner, we may provide a pension to someone who was financially dependent on you – such as your children or a dependent adult. If we pay a pension to any of these people, their pension may also increase each year in line with inflation. Who these benefits are paid to is decided by the Trustees. If you have a completed Expression of Wish, the Trustees will use this in their decision.

Why do I need to review my Expression of Wish?

If your Expression of Wish is out-of-date, for example it names an ex-spouse, the Trustees will still need to take it into consideration when making their decision. In addition, your Expression of Wish will take precedence over a Will when it comes to your pension benefits – so it is important to update your Expression of Wish if your circumstances change.

What if I do not have an Expression of Wish?

If you do not have a completed Expression of Wish, then it will be down to the Trustees to decide how to pay your death benefits. This may mean that your benefits are not distributed in a way you would have intended.

How can I check what is on my latest Expression of Wish?

The easiest way to check your Expression of Wish is by logging in to the Member Portal. If you have not registered for the Member Portal, you can do so by following the registration guide.

Top tip: if you use a reminder app on your phone, try setting an annual reminder to check your Expression of Wish nomination. Alternatively – set yourself a calendar invite, or just write it on your physical calendar! You do not have to complete a new form every year, but try and get into the habit of checking whether your current form is up-to-date.