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What happens to my retirement pot if I die before taking my money out of Nest?

You can tell us who you would like to receive your retirement pot if you die before taking your money out of Nest. They can be your family members, friends, your favourite charity or any other organisation. Who you choose is known as your beneficiary.

For more information about the different ways of telling us who you would like to receive your Nest pot when you die, please see What happens to my pension when I die?

 You can either make a nomination or make an expression of wish.

  • making a nomination means that Nest will pay your retirement pot to whoever you’ve told us to on the basis that we can trace them. Your pot will usually form part of your estate for inheritance tax purposes.
  • making an expression of wish means that your wish and current circumstances will be considered when we decide who your money goes to and your pot won’t usually be impacted by inheritance tax.

If you haven’t nominated any beneficiaries, or completed an expression of wish, when you die we’ll contact whoever is dealing with your estate to pay your pot to your estate. If the pot is £5,000 or under we may pay it to certain relatives.

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