Nomination of Pension Death Benefits

Nomination of Pension Death Benefits is the process of choosing who will receive the benefits from a pension scheme in the event of the pension holder's death. This is an important decision that can have significant implications for the pension holder's family and loved ones.

A nomination of pension death benefits allows the pension holder to specify one or more individuals or charities to receive the benefits from their pension scheme upon their death. This can be done through a formal nomination form provided by the pension scheme, or through the pension holder's will.

The nomination of pension death benefits can be an important estate planning tool, as it allows the pension holder to ensure that their loved ones are provided for after their death. It can also be an important tax planning tool, as it may help to minimise the tax liability on the pension benefits.