Claiming on a friend's pension

[Deleted User]

I have been fortunate enough to have been named as a beneficiary in a friends will. I have been left 2.5% of their total estate. In addition to this I have been contacted by a pension provider my friend had a retirement account with who have asked me whether I want to make a claim on the pension as well. I have been informed that although an expression of wishes form has been submitted the pension provider is also contacting everyone in the will to see whether they want to make a claim towards these funds. There are 30 people in total named in the will but the majority of the estate (over 50%) has been left to my friends niece who is also solely named on the expression of wishes form. Why would the pension provider be contacting people in the will if they have a valid expression of wishes form. I certainly won't be making a claim but feel others may and that they are taking money away from my friends niece. Is there anything that can be done about this?  

poseidon1

Does sound a little odd initially.

However the pension trustees are simply doing their due diligence to ensure there was no one who may have been  financially dependent on your friend, on whose behalf they should consider sharing the funds.  Sounds like to me that your friend was single, with no children of his own and perhaps no obvious dependents.

For the scheme trustees to consider any of the other 30 people they will have to demonstrate financial dependency, a high bar if none were living with him.

dunstonh

 In addition to this I have been contacted by a pension provider my friend had a retirement account with who have asked me whether I want to make a claim on the pension as well. I have been informed that although an expression of wishes form has been submitted the pension provider is also contacting everyone in the will to see whether they want to make a claim towards these funds.

This it normal.    However, at this stage, it is information gathering for the administrators to then present the scenario to the trustees.    

Why would the pension provider be contacting people in the will if they have a valid expression of wishes form.

Because the Will and the expression of wish differ significantly and they want to ascertain the scenario.  Its likely that the expression of wish did nothing more than name the niece and percentage and didn't include any explanation.    Often in cases like this, its worth including an explanation as to why.

I certainly won't be making a claim but feel others may and that they are taking money away from my friends niece. Is there anything that can be done about this?  

Just because they are asking, doesn't mean that the niece won't get everything.   Blood is thicker than water and those that do respond to the administrators will have to put their case forward as to why the trustees should override the EOW.

[Deleted User]

poseidon1 said:

Does sound a little odd initially.

However the pension trustees are simply doing their due diligence to ensure there was no one who may have been  financially dependent on your friend, on whose behalf they should consider sharing the funds.  Sounds like to me that your friend was single, with no children of his own and perhaps no obvious dependents.

For the scheme trustees to consider any of the other 30 people they will have to demonstrate financial dependency, a high bar if none were living with him.

My friend had been widowed for 12 years, had no children of their own and had not entered into any new romantic relationships. They lived on their own and had no financial dependants not even their niece. Despite that their niece was the closest living relative and I just hope the trustees come to the right decision. 

Marcon

Happychappy20 said:

poseidon1 said:

Does sound a little odd initially.

However the pension trustees are simply doing their due diligence to ensure there was no one who may have been  financially dependent on your friend, on whose behalf they should consider sharing the funds.  Sounds like to me that your friend was single, with no children of his own and perhaps no obvious dependents.

For the scheme trustees to consider any of the other 30 people they will have to demonstrate financial dependency, a high bar if none were living with him.

My friend had been widowed for 12 years, had no children of their own and had not entered into any new romantic relationships. They lived on their own and had no financial dependants not even their niece. Despite that their niece was the closest living relative and I just hope the trustees come to the right decision. 

Having a valid expression of wish form isn't enough, even a recent one. The trustees need to carry out proper due diligence (which is clearly what they are doing). That is the route most likely to ensure they come to 'the right decision'. 

I presume this is the same person as the one you posted about last year - seems massive coincidence if not: https://forums.moneysavingexpert.com/discussion/6470219/st-james-place-wealth-management-retirement-account-eow-lpt#latest