Almost three-quarters (72 per cent) of UK adults have never completed an expression of wish form, which nominates the beneficiaries of their pension benefits in the event of their death, research from Canada Life has revealed.

The analysis also found that, among those aged 55 and over, 71 per cent said they had not completed one of these ‘pension wills’.

An up-to-date expression of wish form was emphasised by Canada Life as a quick and efficient way to distribute pension wealth whilst taking the customer’s views into account.

Canada Life warned that the absence of an expression of wish form could result in delays to beneficiaries receiving the pension, or “worse still” the potential for unintended beneficiaries receiving the pension.

Canada Life technical director, Andrew Tully, commented: “A huge number of UK workers have been auto-enrolled into pensions over the past few years so it’s both surprising and concerning more people either haven’t completed a pension will or perhaps can’t remember.

“Having an up-to-date form lodged with your pension company makes sure the company knows who you would like to benefit should you die.

“The expression of wish provides a valuable piece of evidence when the trustees are trying to establish the right beneficiaries to receive the money.

“It may seem something you can put off to another day, but the expression of wish form should only take a few minutes to complete. Ask your pension provider or HR department for a copy to complete.

“If your circumstances change, you should always review and submit a new form if required.”

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