Immediately after your pension plan is opened, or at any time in future, you can inform Investors Trust of your chosen beneficiaries who you would like to receive your pension in the event of your death. We can assist with this process if you need any help. You can nominate one or several persons or other legal entities, and specify what percentages are paid to different persons if you have more than one beneficiary (it doesn’t have to be equal splits). You can also add/remove/change your nominated beneficiaries at any time if you wish.
If you die, your beneficiaries have two options: They can either be paid a total of 101% of the current pension plan value by bank transfer (i.e. the full current value plus an additional 1%), or they can choose to keep the pension plan running on exactly the same terms and simply have it transferred into their name(s).