A beneficiary is the person you name to receive your pension or pension benefits in the event of your death. You can nominate more than one person to be your beneficiary. Often you can nominate a Trust or Charity too (but check with your pension provider first to make sure they'll accept this).
1 November 2022 at 21:20:32
This glossary definition has been deliberately kept as simple as possible to give a brief outline of the term to assist with general financial knowledge. It is not intended to give a detailed explanation. Please refer to our Legal Declarations.