Money Saving Expert Martin Lewis has issued a warning to anyone with a private pension, warning their savings may not go to who they wish when they die. Instead, the decision could be made by the government, reportedly because many people don't actually express their wish to leave their pension to a loved one when they take out the policy.
Speaking on his ITV programme Money Show Live, he explained: "If you want to leave your pension to someone, get on to your company or private pension and fill out an 'Expression of Wishes' or 'nomination' form which tells the trustees or tells the company who you want your pension assets to go to if you die.
"Make sure your details are up to date - you don't want to leave it to your ex-husband or ex-wife if you don't want the money to go to them anymore. So, that is an important thing to look at too." If you don't do this, the state could decide what happens to your money after you die, Leicester Mercury reports.
