Martin Lewis has issued a stark warning to millions of people across the country who are paying into a workplace or private pension scheme. According to figures from the Office for National Statistics (ONS), in April 2021 some 22.6 million employees across the UK were saving for their retirement through a workplace pension.
However, many people building a pension pot to help boost their State Pension in later life may be unaware that you cannot put a pension into your will. The consumer champion told viewers of The Martin Lewis Money Show Live on Tuesday that the only way to ensure your private or workplace pension goes to the right people (or person), is to complete an ‘Expression of Wishes’ form with your employer.
The financial journalist said: “You can’t put your pension in your will.”
