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Try it nowLook after your successors with an Expression of Wish
King Charles III will be crowned successor to the throne on Saturday 6 May, but have you thought about what your own ‘successors’ might get in the event of your death? An Expression of Wish could make a difference.
Why make an Expression of Wish?
A valuable benefit of your Scheme membership is that a lump sum might be paid if you die before taking your pension. This is usually tax-free.
You can tell us who you want the money to go to by making an Expression of Wish. The Trustee considers your Expression of Wish when deciding who to make any payments to.
If you don’t make an Expression of Wish, the Trustee may not know where to pay the money. This could mean the payment is delayed, and even taxed as a result.
It’s a difficult time when you lose someone, without adding financial stress and disagreements between friends and family. So it’s a good idea to make an Expression of Wish to help prevent unnecessary worry.
Who can I add to my expression of wish?
You can add:
- An individual, or several people, such as family and friends
- Organisations or good causes
- Charities
You can add as many people as you want to.
Your Expression of Wish is confidential, so the people or organisations you’ve listed won’t know if you’ve added or removed them as a beneficiary.
Make sure to keep your Expression of Wish details up to date so they still reflect your wishes, particularly if your circumstances change. You could make a note in your diary to review your expression of wish every year or so.
How do I make an Expression of Wish?
To make an Expression of Wish, you can print off the online form and complete it.
Is an Expression of Wish the same as a will?
An Expression of Wish is not the same as a will. Your Expression of Wish shows where you’d like a lump sum from your pension to go if you die before you claim it, and this cannot be covered in your will.
Many people think everything they own will be given out according to their will when they die. It’s important to remember that if you die, your pension is separate to the rest of your estate.
Matt Riley
Manager
Matt joined Zedra Governance Limited (formerly PTL) in January 2008 having previously worked for Mercer Limited, Hazell Carr and Prudential.
As a Manager for the company's Birmingham Office, Matt’s responsibilities include working closely with Client Directors and individually liaising with Employers, Trustees and Members to ensure the smooth running of their pension schemes. Matt’s current portfolio of clients covers ongoing, paid-up and winding-up schemes. In addition, Matt has experience of schemes that have transferred or are in the process of transferring to the Pension Protection Fund and Financial Assistance Scheme. Matt also works closely with clients in relation to risk registers and internal controls.
Matt particularly enjoys resolving issues in a fair and pragmatic way ensuring that the right result is reached for the member or employer.
Sam Burden
Client Director
Sam Burden joined Zedra Governance (formerly PTL) in 2022. He is an Accredited Professional Pension Trustee (AMAPPT) and an Associate of the Pensions Management Institute (APMI)
Sam has more than 25 years’ experience in the pensions industry gained with WTW, KPMG, and Standard Life working with a wide range of pension schemes and sponsoring employers. His trustee appointments include DB, DC and hybrid pension schemes and he has experience of handling a broad range of projects relating to the management of pension schemes.
Beyond his pensions experience Sam is a former Birmingham City Councillor where he chaired the audit committee and a current charity trustee.
Payam Kazemian
Client Director
Payam Kazemian joined Zedra Governance Limited (formerly PTL Governance Limited) in 2021. He is an Accredited Professional Pension Trustee (AMAPPT) and an Associate of the Pensions Management Institute (APMI).
Payam has more than 17 years of experience in the pensions industry. Through his current role as a professional trustee, as well as previously as a pension’s de-risking and investment structuring expert at financial institutions including Goldman Sachs and Deutsche Bank, he has had overall responsibility for creating investment, de-risking, journey planning, and governance solutions for a wide range of UK DB pension schemes. He currently holds a number of board positions (as Chair of Trustees) and sole trustee in his professional trustee capacity. Payam has been involved with a number of pensions projects including pensions buy-in, pensions buy-out, GMP equalisation, investment strategy reviews, and dialogue with the pensions regulator. Payam looks to create and believes in a collaborative relationship between the sponsor, the trustee, and all other parties involved as this results in best member outcomes and helps deliver pragmatic solutions for scheme. Aside from his pensions experience, Payam holds a Ph.D. in Materials Science from the University of Cambridge.