classic plus
Giving up pension for someone else
You have the option to give up part of your pension to provide benefits for another person. This is known as an allocation of pension. You may choose to add to the benefits you have already provided for your husband, wife or civil partner, or to provide for another person who is dependent on you. This pension will start after you have died.
You need to remember a number of points about allocating part of your pension.
- You give up part of your pension.
- You cannot give up more than one third of your pension (sometimes this limit is lower).
- You cannot change or cancel the allocation, even if the person who would have received the benefits dies first.
- You must be in good health (we will need proof).
- The pension you allocate is payable for life and is not affected if you get married again.
- If the beneficiary is not your husband, wife or civil partner, then they will need to still be dependant on you when you die if they are to receive a pension.
If you are interested in this option, contact your pension administrator to find out how this will affect your pension. They will tell you what to do next. For more information about partner benefits, see Partners.
