Return to What is paid on my death? I have a Managed Pension Plan
 
Death benefits to be deferred indefinitely Plan to continue to spouse or dependant Death benefits to be paid out
A spouse or a dependant can transfer the full fund to another company that may allow the plan to continue on the spouse or dependant's death.

Any income will be subject to the spouse/dependant's marginal rate if you were aged 75 or over on your death.
If you were to die before you take your savings, the plan can be taken on by your spouse or dependant. They can continue to take income from the plan. Any income will be taxed using a tax code provided by HMRC if you were aged 75 or over on your death. If you were to die before you take your savings, we will pay out the full fund value as at the date of death. The death benefits may be paid at our discretion. We will take into account any people you have nominated. The payment may fall outside of your estate for inheritance tax purposes.

If your policy continues beyond your 75th birthday, any death benefits become subject to income tax at the beneficiary's marginal rate
 
Click here to download a form if you would like make/change a nominated beneficiary