Pension drawdown glossary
A form telling your pension scheme who you would like to receive your pension when you die. It is usually not binding, so the scheme keeps the final say, but schemes normally follow it. Keep it up to date after marriage, divorce or a death in the family, and check it when you switch provider.
Source: MoneyHelper: pensions glossary · Last reviewed 24 September 2026
See every term in the A–Z glossary. Definitions are general information for the 2026/27 tax year, not personal advice.
Important: The value of investments can fall as well as rise. You may get back less than you invest. Tax rules can change and benefits depend on individual circumstances. This is not financial advice.