One in six people with a partner are unsure who would inherit their pension savings if they were to die before accessing them*. While the majority – 65% – have nominated their spouse or partner as their named beneficiary, others have chosen different paths: one in five say they have selected another family member, while a small number say they are leaving their pension pot to a charity (4%) or a friend (3%).
However, a concerning proportion of respondents did not know who their beneficiary would be. In particular, people living with a partner but neither married nor in a civil partnership were especially likely to be unaware – 25% of these respondents didn’t know who would receive their pension. Similarly, uncertainty was highest among the youngest (ages 16–24) and the oldest (79+) respondents, with 10% and 18% respectively unable to name a beneficiary.
One in 10 divorcees had forgotten to remove their former partner as a life insurance beneficiary
The risk of outdated choices
More concerning still, 3% of respondents suspect their pension may still be designated to an ex-partner. In fact, a separate study** found one in 10 divorcees had forgotten to remove their former partner as a life insurance beneficiary.
Keep your wishes up to date
To make sure your pension savings go to the right person, it’s essential to review your nominated beneficiary regularly. Life changes – so should your financial paperwork. Don’t risk your pension falling into the wrong hands – review your beneficiary regularly to ensure it reflects your current wishes and circumstances.
*Aviva, 2025, **Legal & General, 2025
The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.
Approver Quilter Financial Services Limited & Quilter Mortgage Planning Limited. July 2025
