Beneficiaries

It’s not something we want to think about but if anything happens to you, it’s important that we know what you want to happen to the money saved in your pension pot.

Find out everything you need to know about nominating beneficiaries.

Beneficiaries

It’s not something we want to think about but if anything happens to you, it’s important that we know what you want to happen to the money saved in your pension pot.

Find out everything you need to know about nominating beneficiaries.

Depending on whether you are a current employee, have DB pension benefits, and have DC pension savings, you will have to complete up to three separate Expression of Wish forms.

New employee

: If you die whilst you’re still employed by the Aberdeen Group of companies, a lump sum death benefit of 8 times your Insurable Salary is payable under the Excepted Life Scheme. This is separate from any benefits payable as a member of the Aberdeen Group Pension Scheme.

Further information regarding the Excepted Life Scheme can be found here.
: When you die, the value of your DC pension savings is payable as a lump sum to the person, people, or causes you would like to receive your pension benefits.

Whilst it’s not legally binding, the Trustee will exercise their discretion in deciding to whom any pension benefits are paid upon your death.

It’s therefore important you tell us the beneficiaries you would like to have, and just as important, to keep these up to date.

The amount will depend on several factors including whether you have started taking money from your pension fund, and if you have, how you’re doing that.

Your chosen beneficiaries will normally receive the money free of tax if you die before age 75. But if you die after age 75, they will have to pay tax at their highest income tax rate.
: Expected Life Scheme

You should complete the Expression Of Wish form located on the Aberdeen Benefits Platform to let your employer know who you would like to receive the lump sum death benefit.

Further information regarding the Expected Life Scheme can be found here.

DC pension savings

You should complete a DC Expression of Wish form by login into the Standard Life dashboard or mobile app.

Current employee - joined the Scheme on or after 1 April 2025

: If you die whilst you’re still employed by the Aberdeen Group of companies, a lump sum death benefit of 8 times your Insurable Salary is payable under the Excepted Life Scheme. This is separate from any benefits payable as a member of the Aberdeen Group Pension Scheme.

Further information regarding the Excepted Life Scheme can be found here.
: When you die, the value of your DC pension savings is payable as a lump sum to the person, people, or causes you would like to receive your pension benefits.

Whilst it’s not legally binding, the Trustee will exercise their discretion in deciding to whom any pension benefits are paid upon your death.

It’s therefore important you tell us the beneficiaries you would like to have, and just as important, to keep these up to date.

The amount will depend on several factors including whether you have started taking money from your pension fund, and if you have, how you’re doing that.

Your chosen beneficiaries will normally receive the money free of tax if you die before age 75. But if you die after age 75, they will have to pay tax at their highest income tax rate.
: Expected Life Scheme

You should complete the Expression Of Wish form located on the Aberdeen Benefits Platform to let your employer know who you would like to receive the lump sum death benefit.

Further information regarding the Expected Life Scheme can be found here.

DC pension savings

You should complete a DC Expression of Wish form by login into the Standard Life dashboard or mobile app.

Current employee - joined the Scheme before 1 April 2025

If you die whilst you’re still employed by the Aberdeen Group of companies, a lump sum death benefit of 8 times your Insurable Salary is payable under the Excepted Life Scheme. This is separate from any benefits payable as a member of the Aberdeen Group Pension Scheme.

Further information regarding the Excepted Life Scheme can be found here.

When you die, the value of your DC pension savings is payable as a lump sum to the person, people, or causes you would like to receive your pension benefits.

Whilst it’s not legally binding, the Trustee will exercise their discretion in deciding to whom any pension benefits are paid upon your death.

It’s therefore important you tell us the beneficiaries you would like to have, and just as important, to keep these up to date.

The amount will depend on several factors including whether you have started taking money from your pension fund, and if you have, how you’re doing that.

Your chosen beneficiaries will normally receive the money free of tax if you die before age 75. But if you die after age 75, they will have to pay tax at their highest income tax rate.

When you die, the value of your DC pension savings is payable as a lump sum to the person, people, or causes you would like to receive your pension benefits.

Whilst it’s not legally binding, the Trustee will exercise their discretion in deciding to whom any pension benefits are paid upon your death.

It’s therefore important you tell us the beneficiaries you would like to have, and just as important, to keep these up to date.

The amount will depend on several factors including whether you have started taking money from your pension fund, and if you have, how you’re doing that.

Your chosen beneficiaries will normally receive the money free of tax if you die before age 75. But if you die after age 75, they will have to pay tax at their highest income tax rate.

If you were a Scheme member before 16 April 2016 you may have DB pension benefits. In this instance, pension benefits are payable to your spouse, civil partner and nominated beneficiaries as set out in the Aberdeen Group Pension Scheme Trust Deed & Rules.

Pension benefits on death before retirement

If you pass away before retirement, the amount paid is based on your pensionable salary and your years of service:

For service between 6 April 1978 and 5 April 1997, you get 1/160th of your salary per year
For service between 6 April 1997 and 31 December 2007, you get 1/120th of your salary per year
For service from 1 January 2008 onwards, if you chose career average benefits, you get 1/120th of your revalued earnings per year

The total pension amount is increased from the time you left the Scheme to the date of death to help protect against inflation.

Benefits on death after retirement

If you die after starting to receive your pension:

A lump sum may be paid if you retired within the last 5 years and used salary sacrifice between 2004 and 2007.
Your spouse or partner will receive a pension equal to two-thirds of your full DB pension, as if you hadn’t taken any tax-free cash. This includes any increases from retirement to death.
If there’s no surviving spouse or partner, a child’s pension will be paid to eligible children, shared equally, and based on the same amount the spouse’s pension would have been.

For further information, please contact Aptia on 0330 100 3491.

Pension benefits on death before retirement

If you pass away before retirement, the amount paid is based on your pensionable salary and your years of service:

For service between 6 April 1978 and 5 April 1997, you get 1/160th of your salary per year
For service between 6 April 1997 and 31 December 2007, you get 1/120th of your salary per year
For service from 1 January 2008 onwards, if you chose career average benefits, you get 1/120th of your revalued earnings per year

The total pension amount is increased from the time you left the Scheme to the date of death to help protect against inflation.

Benefits on death after retirement

If you die after starting to receive your pension:

A lump sum may be paid if you retired within the last 5 years and used salary sacrifice between 2004 and 2007.
Your spouse or partner will receive a pension equal to two-thirds of your full DB pension, as if you hadn’t taken any tax-free cash. This includes any increases from retirement to death.
If there’s no surviving spouse or partner, a child’s pension will be paid to eligible children, shared equally, and based on the same amount the spouse’s pension would have been.

For further information, please contact Aptia on 0330 100 3491.

Excepted Life Scheme

You should complete the Expression Of Wish form located on the Aberdeen Benefits Platform to let your employer know who you would like to receive the lump sum death benefit.

Further information regarding the Excepted Life Scheme can be found here.

DC pension savings

You should complete a DC Expression of Wish form by login into the Standard Life dashboard or mobile app.

DB pension benefits

You should complete a DB Expression of Wish form by login in to OneView to let the Trustee of the Scheme know who you would like to receive DB pension benefits.

If you do not provide these details, the Trustee will need to allocate these benefits without this information and those people you wish to benefit may not receive any benefits. You can view and update details of your nominated beneficiaries at any time via OneView.

Excepted Life Scheme

You should complete the Expression Of Wish form located on the Aberdeen Benefits Platform to let your employer know who you would like to receive the lump sum death benefit.

Further information regarding the Excepted Life Scheme can be found here.

DC pension savings

You should complete a DC Expression of Wish form by login into the Standard Life dashboard or mobile app.

DB pension benefits

You should complete a DB Expression of Wish form by login in to OneView to let the Trustee of the Scheme know who you would like to receive DB pension benefits.

Former employee - deferred Scheme member