My grandfathers pension advice?

Loop

Hi there,

My grandfather has had me put as the sole beneficiary of his pension should he pass away (god forbid). He was a well paid journalist before retirement. What does this mean, I have never had to think about this sort of thing before, but he was adament he wanted me to know now, and im not sure how this sort of thing would work?

Any advice?

Thanks guys x

dunstonh

What does this mean

It may not mean anything or it could mean a lump sum on his death. It really depends on the type of pension and whether it has been crystallised or not.

Loop

Right, I wasnt sure if he just wanted me to know, or to gain inheritance from it, i know nothing about pensions, or if its been crystallised? My grandfathers 3 sons are all astranged and will prob cause all sorts of problems contesting etc. Could this be a reason why he has put me down for this, so that it wont be likely to contest? Its come as a total shock I guess, and its got me worried theres something hes not telling me!

jamesd

Ask him. He can tell you why he did it and what he expects. He may well have made other arrangements for the others.