🟩 What happens to my pension if I die?

Most pensions allow you to nominate beneficiaries to receive your pension when you die. Different tax rules apply depending on your age at death and how your beneficiaries access the funds.

🟩 What is a beneficiary nomination form?

This is a form you complete to tell your pension provider who should receive your pension benefits when you die. Keeping this updated ensures your pension passes to the right people.

🟩 Can I move my old workplace pensions into one pot?

Yes — this is called pension consolidation. It can simplify your finances but needs careful consideration to ensure you don’t lose valuable benefits or guarantees.

🟩 Are pension withdrawals flexible after I retire?

Yes — with flexi-access drawdown, you can adjust the amount you withdraw over time, depending on your income needs and how your investments perform.

🟩 What charges apply to my pension?

Pensions may have fund charges, platform charges, advice fees, and other costs. It’s important to review these regularly to ensure good value for money.

🟩 Is my pension protected if my provider goes bust?

In most cases, UK pensions are protected through schemes such as the Financial Services Compensation Scheme (FSCS) or the Pension Protection Fund (PPF), depending on the type of pension.

🟩 Can I still pay into my pension if I’ve already retired?

Yes — you can usually continue contributing to a pension while retired, but contribution limits may be lower once you start drawing flexible income.

🟩 How does inflation affect my pension?

If inflation rises faster than your pension grows, your future income may lose purchasing power. That’s why many people balance secure income with investments designed to outpace inflation.

🟩 Can I take my pension early due to ill health?

In some cases, you may be able to access your pension early if you suffer from serious ill health or meet certain medical conditions.