Neil MacGillivray: A duty of care and some common sense

Expression of wish

clock • 4 min read

The need to demonstrate a duty of care and the requirement for some investigation and a bit of common sense are every bit as important as an up-to-date expression of wish, argues Neil MacGillivray

You will in all likelihood have seen the headlines in some of the Sunday papers and in the financial press at the end of last month stating three-quarters of a million people coming up to retirement were at risk of their pension being passed on to an ex-partner when they die because they had not updated their expression of wish. Now, at the very outset I am not disputing the importance of a member keeping their expression of wish up-to-date - and this is for two key reasons. First of all, it gives guidance to the pension provider as to whom the member wishes to benefit and, second, the i...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

How advisers can play a role in boosting wellbeing in retirement

How advisers can play a role in boosting wellbeing in retirement

A happy retirement is the 'north star'

Cecilia Furner
clock 08 November 2024 • 3 min read
Partner Insight: Embracing the future of retirement planning

Partner Insight: Embracing the future of retirement planning

Brooks Macdonald
clock 31 October 2024 • 2 min read
Pension tax rules uncertainty shows 'need to shift retirement planning'

Pension tax rules uncertainty shows 'need to shift retirement planning'

Needs to include wider considerations of capital drawdown beyond pensions

Isabel Baxter
clock 24 October 2024 • 2 min read