It may not be the most cheerful thought to have, but we all want to make sure those closest to us are provided for after we die.

One of the benefits of your pension scheme is your beneficiaries could receive a cash lump sum if you die. It’s not a fixed amount and will depend on your circumstances at the time of your death.

To make sure your wishes are considered, it’s important to tell the Trustee who your beneficiaries are. You can nominate an individual, several people, a charity or organisation.

It’s important to tell the Trustee where you would like the money to be paid because:

• The money is normally tax free
• The decision about where the money goes may be sped up, sparing extra worry at a difficult time for your loved ones
• If there is a delay in the money being paid, it could be taxed.
  

Your expression of wish is confidential. Your beneficiaries will not be told that you have added or removed them as your nominated beneficiary.

Complete your expression of wish online

The easiest way to nominate is by logging in to your online pension account at eon.myesps.co.uk

If you haven’t yet registered for your account, it only takes a few minutes. All you need is your national insurance number, personal email address and the activation code that was sent to you in the post.

If you no longer have your activation code letter, please email netenquiries@railpen.com with your name, your scheme and your payroll/pension number (so we can identify you). Railpen will then give you a code.

If you’ve recently completed your expression of wish, that’s great! But if circumstances change, it’s important to keep them up to date. It’s worth reviewing your nominations every couple of years so they continue to reflect your wishes.