Overwhelmed by all the pension jargon? Fear not, our pension glossary has you covered. All the important terms and acronyms explained right here.
What is a Beneficiary?
If you’re entitled to the benefits from a pension scheme then you’re a beneficiary. The word also refers to anyone who is entitled to the benefits from your pension scheme if you die. You’re usually asked to nominate a beneficiary, often a spouse or dependent, when you take out a pension.