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Keep up to date with the latest pension news, such as rises in the State Pension age, tax limits and any other announcements that could affect your benefits.
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Who will inherit your pension?
Around 1 in 6 of us don’t know who will benefit from their pension if they die – do you?
Recent research by Aviva*, has revealed that almost 15% of UK adults don’t know who will get their pension benefits if they die before taking them. And a further 3% are worried they could go to their ex-partner, rather than the person they’re currently with.
Read on to find out who could benefit from your pension in the E.ON Scheme, and how to have your say on where the money goes when you die…
Who can benefit from my pension?
The benefits that can be paid when you die are set by the Scheme Rules and Trustee.
As a general overview…
Your death benefits may include:
- a tax-free cash lump sum
- a pension for a spouse, children or other dependant
Can I have a say in where the money goes?
Who gets your lump sum is at the discretion of the Trustee.
You can let them know who you think the lump sum should be paid to by making an Expression of Wish.
While the Trustee does not have to follow your Expression of Wish, it is an important piece of information that it will consider.
Making an Expression of Wish could also make the process quicker and may prevent delays in any lump sum being paid, which can have tax implications.
An Expression of Wish only applies to any cash lump sum that may be paid out. It does not affect who can get a pension from the Scheme if you die. This is set out in the Scheme Rules, and is typically limited to a spouse, children or other dependant.
How to make/change an Expression of Wish
It is quickest and easiest to make or change an Expression of Wish online. Simply log in to your myESPS account and follow a few short steps. It should only take a few minutes.
If you haven't got a myESPS account, you can register now via the links above.
Alternatively, you can download and print a nomination form. Once complete, please return it to the Scheme administrator, Railpen, using the address on the form.
You can find out more about who you can make add to your Expression of Wish, and how, on the Expression of Wish page.
Please remember to check and update your wishes regularly, as the person or people you want to benefit may change over time and it’s important the Trustee knows your wishes are up to date.
*https://www.aviva.com/newsroom/news-releases/2025/05/do-you-know-who-will-inherit-your-pension/
