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Pension death benefits can be passed to your beneficiary in a number of ways:
1. Lump sum payment: This is a single payment which will fully extinguish the pension fund.
2. Lifetime annuity: Your beneficiary can choose to buy an annuity which provides a guaranteed income for life.
You can nominate more than one beneficiary. For instance, if you want two people/charities to get half of it each, or if you’d like one person/charity to get a quarter and another person/charity to get the other three quarters.
For further information in the first instance please contact your pension provider and they will help you.
Need further help via Government Websites: