My Ex Will Get My Pension When I Die!

[Gadgee]

I got divorced two years ago and until yesterday assumed that it was all done and dusted. At a meeting with my accountant yesterday it was suggested that I check my LV policy to see if my ex wife was named as the beneficiary who would contunue to receive my monthly pension when I die.

I checked and yes, she is to receive the payments.

I called LV and they tell me that it is impossible to change the policy so that my ex is no longer entitled to my pension payments. (I have remarried and would want the pension payments to go to my new wife on my death.)

I can't be the only person wanting to change this type of policy after divorce but Googling the topic does not produce much of use. I could arrange a meeting with a solicitor to get a ruling but am hoping that somebody has been through this situation and can comment from a position of knowledge. (I would prefer to avoid solicitors as I am still trying to repair my finances after the battering they took through the divorce!)

If it makes a difference, I am in Scotland.

Thanks in advance for any guidance

No answer but this is not good. What if you made a will listing new wife as beneficiary - would that not override your LV policy ?

Can’t you go online to your policy and simply change it?
i changed all my pensions beneficiaries ( England. ) what’s the reason they give ?

Is this because they are still named as a beneficiary on your policy? I have my pension with Scottish Widows and I can change my beneficiaries

I've changed the beneficiary on my pension with Aviva. Seems a bit strange they're saying you can't!

I changed my Aviva policy through my online account for my pension. By phone to L & G for my life insurance. And through the work portal for death in service benefit.

I find it very strange LV have told you no, as googling suggests you can do this online.

What?! That's crazy!

Are you sure that’s not because that was agreed as part of the financial settlement?

Yes - wouldn’t this have been dealt with at the time of divorce? OP may have to go back to their divorce solicitor.

All I can think is that your pension wasn’t included in the financial settlement and there was no pension sharing order. Is this the case?

My understanding is that your ex wife can expect a proportion of your pension for any potential loss of her earnings/ pension payments while you were married due to maternity leaves/ part time working to look after children. It’s not uncommon for an ex spouse to receive this as part of the divorce settlement from my understanding.

Presumably she has some entitlement to the pension as part of the divorce settlement, and that wouldn't just fall away because you die.

Checked that option but the pension policy is a legally binding document so overrides any will provisions.

Try again to change beneficiary. Call again you may get someone different. Or can you try online?

What was decided about pensions in your divorce?

Not sure how to reply to a post so am doing it the long winded way!

reachingouttt : Legal agreements cannot be altered by will provisions.

millymollymoomoo : No - there is no facility in the LV dashboard for this type of change. When I challenged their position the person making the statement checked with her superior and confirmed the position.

SardineJam : Yes - she is the named recipient of pension payments upon my death.

starrynight009 : LV are adamant that I cannot change her name.

WhatsitWiggle : See previous comments on LV's position.

JohnTheRevelator : Could not agree more!!

2024onwardsandup : Because we were not married or together when I was paiying into my pension policy (and to other investments) it was agreed that she had no claim to the pension or to any other cash.

Soontobe60 : See above.

Raindropsandroses123 : See above

Leiths : see above reply.

(Thinks - must work out how to reply to posts..)

Are you retired now? If not can you just transfer your pension to another provider? It’s absolute madness that you can’t make this change!

It couldn't possibly be the case that you can't change the policy. What if your ex died before you?

The obvious answer is to transfer your pension to another company and update the beneficiary as you do so.

You need to go back to them and ask why they say you can't change it. Sounds like an error somewhere.

@Gadgee

That does not seem at all correct.

You should persist with challenging this information

eta; removed link as didn't relate

Thats for changing the policy holders name not the beneficiary

@Kedece

yes, just realised and removed the link 🙈

I think if I were you I'd make a formal complaint. It's insane that they can't change it, makes no sense. If they stick to their guns I'd take it to the financial ombudsman, but I'm pretty sure you can't go there if you haven't made a complaint amd tried to get resolution first.

ChatGPT says this…

Changing the beneficiary of a pension depends on the type of pension plan you have and the organization managing it. Here’s a general step-by-step guide:

1. Identify the Pension Plan Type

Determine what kind of pension or retirement plan you have:

• Employer-sponsored defined benefit plan (traditional pension)
• Defined contribution plan (like a 401(k), 403(b), etc.)
• Government pension (e.g., Social Security, military, or public employee pension)
• Private or individual pension accounts

2. Contact the Plan Administrator

Reach out to the HR department of your employer, plan administrator, or the financial institution managing the pension. Ask for:

• The beneficiary designation form
• Information on the current beneficiary (if you’re unsure)

3. Complete the Beneficiary Designation Form

You’ll need to provide:

• Your personal information
• The full name, date of birth, and relationship of the new beneficiary
• The percentage of benefits they should receive (if listing multiple)
• Possibly a witness or notarized signature, depending on the plan

4. Submit the Form

Follow the instructions for submitting the form — usually by mail, secure upload, or in person.

5. Get Confirmation

Ask for written confirmation or a statement showing the change has been processed.

Special Notes:

• Spousal Consent: Some plans require a spouse’s notarized consent if you are changing the beneficiary to someone else.
• Life Events: Review and update your beneficiaries after marriage, divorce, death, or birth of a child.
• Legal and Tax Advice: Consider consulting a financial advisor or estate planner if the change impacts inheritance or estate planning.

Call back and ask the same question again. If given the same answer, ask to speak to a manager. If given the same answer again complain. If you don't agree with the complaint outcome, go to the ombudsman. You may be better off with FOS than TPAS and can use FOS for a pension. Purely because TPAS may have longer response times.

None of that guarantees you will get the answer you want, but does give you a lot more chances to make sure. Failing that, as previous poster said, transfer elsewhere.