What is an expression of wish?
The biggest payment on the death of an active member is the lump sum death benefit.
When a member joins a scheme it is important he/she completes an expression of wish form which is designed to give the trustees an indication of the deceased member’s preference for the settlement of death benefits.
The benefits are payable at the trustees’ discretion so this form is not binding. A completed expression of wish form does, however, help the trustees make a decision more quickly at a difficult time for the family.
The form should be kept up to date as family circumstances change.
Forms can normally be obtained from the trustees or the pension scheme administrator.
Illustrative scenario where there is no expression of wish
A member dies who was separated from his wife and in a new relationship.
The member leaves a couple of children who are not dependent on him.
The member did not leave an expression of wish form.
This is quite a common scenario.
Problems occur if a member does not leave any documentation indicating who the benefits should go to in the event of death.
In this scenario the trustees didn’t know what the member wanted or what his relationship was with his spouse or his children. Further investigations will need to take place before the trustees can make any decisions on who should receive the death benefit payable.
