What happens to your pension if you die? Do your children get it?

30 January 2023

Question by Ashleigh

What happens to your pension if you die? Do your children get it?


Answered by Daniel Barrett

Hi Ashleigh

This depends on whether your pension is a ‘defined benefit’ (a.k.a. final salary) pension or a ‘defined contribution’ pension such as a personal pension.

If you have a defined benefit pension, any money to be paid to your beneficiaries will be as outlined in the scheme’s rules. Typically, for children to received anything from a defined benefit pension they would need to be classed as dependent on you. Adult children don’t usually qualify.

For defined contribution pensions/personal pensions you can nominate your children to receive any funds left in the pension when you die. Ask your pension provider for an ‘Expression of Wishes’ form to nominate your children or anyone else you want to receive the pension in the event of your death.

Kind regards,

Daniel Barrett BSc. FPFS
Chartered Financial Planner

Answered by

Daniel Barrett

Financial Planner

I’m a Financial Planner specialising in investments, pensions & retirement planning, and inheritance tax planning. I love working with clients to answer all their important financial questions.