AJ Bell – Pensions Omnibus Survey

Survey of 985 British adults with a private pension on their knowledge of how private pensions are treated in the event of the owner’s death

Half (51%) of UK adults with a personal pension assume it will automatically go to the person they have nominated as the beneficiary of their pension in the event of their death. Only 7% can correctly identify that their pension provider will decide who it goes to, taking into account their nominated beneficiaries
Three in five (58%) British adults with a personal pension say they don’t know how their pension will be taxed upon their death. Only 4% correctly identified that it would be tax free if they die before age 75 and subject to income tax of the beneficiary if I they die post 75
One in five (18%) British adults with personal pensions have nominated who they would like to receive their pension on death within the last three years. A third (32%) have never nominated a beneficiary and another third (35%) nominated their beneficiary over five years ago

Date Published: 26/10/2017

Categories: Business | Economy | Economy | Finance | Public and communities

Client: AJ Bell

Methodology

ComRes interviewed 985 UK adults with a personal pension online between the 26th and 27th of July 2017. Data were weighted to be representative of all British adults. ComRes is a member of the British Polling Council and abides by its rules