Simply put, your beneficiary is an expression of wish for who you'd like your pension to go to if you pass away.

Your private pensions aren’t legally part of your estate and therefore are not covered in your Will. To outline who you’d like your pension to go to if you pass away, you’ll need to nominate your beneficiary and keep this updated if things change. 📝

To nominate a beneficiary for your Penny pension, simply head to the Settings tab in the app. 📲

If you’ve already added your beneficiary in the app but you need to update this, please reach out to us on live chat. 💬