Can I leave my pension to my girlfriend?

Can I leave my pension to my girlfriend?

The way you take your pension will affect how you can leave it to your beneficiary (the person who inherits it) when you die. Most pension options allow anyone to inherit your pension – they don’t have to be your spouse or civil partner. If you have more than one pension, let all your providers know.

Can I put my pension in a trust?

The trust receives a lump sum death benefit from the pension scheme and then the trustees administer it. However, payment by the trustees to the beneficiary comes with a reclaimable tax credit. So from an income tax point of view, it works out the same receiving it via a trust as it would be receiving it direct.

What happens to my pension when I leave my job?

Leave your pension where it is: Leave your pension in your current employer’s pension plan, if allowed. By doing this, your retirement money stays locked (you can’t withdraw it) and it continues to accrue earnings depending on how the money is invested and how the relevant markets perform.