Considering the death benefits of your pension fund is an important consideration when choosing which retirement option are most beneficial to you. If you have been saving into a fund for most of your working life you probably want to preserve as much of it for your estate (family or according to your will) as possible. As much as you don’t plan to die early into retirement and wish to enjoy your hard earned savings as much as possible, consideration should always be given to death benefit.
The Pensions advisory service explain the full death benefits of each type of pension arrangement.
When choosing your retirement options, it’s important to consider what you want to happen to your funds after your death. You can ensure your spouse or parter is provided with a percentage of your income and for guaranteed periods. A retirement specialist will be able to guide you through all your options
