Pension question: Spouse or Nominee

[insideoutsider]

This is probably a simple question but can't get my head round it.

Man A nominates his 4 adult children (now over 25yo) on his workplace pension 20years ago. He then remarries 5 years ago but didn't change the nominees.

Man A dies.
Who inherits the pension?
Is it the original nominees or his new spouse?

I'm imagining it stays with the original nominees (different from how a will works) but I might be wrong. Please set me straight.

Spouse usually. If it's a DB schemes even if children are nominees they wouldn't usually get anything unless under 18

The pension provider has the ultimate say but yes will probably go for the nominated beneficiaries. It is common for people with children from a first marriage to leave some of the pension provision to them upon remarriage as it 1. Provides for the children and 2. Helps prevent fighting over the house which they may want the spouse to live in.

That seems the reason why the man would nominate the older kids. However, the house is owned as tenants in common so the kids inherit their father's half of the house anyway.

@ZoeyBartlett thinks the spouse will inherit unless the children are under 18 so there are 2 opposing views.
Hopefully someone comes along who has been through something similar.

Thanks so far

It will be down to the trustees to make enquiries including getting copies of the will and potential beneficiaries and then making a decision on the allocation. An expression of wish that is that out of date would carry less weight than one completed last year for obvious reasons.

The trustees should also seek to establish who was financially dependent and look to provide for dependants if the will was not providing for them.

This. Nobody on here can give a definitive answer because the trustees could go either way with the decision (or could even split it between all the children and the spouse).

@AuntieJoyce @ChessieFL
So you're saying the names put on the beneficiary forms as nominees are not final? I thought if you named person X and Y, the pension will be given to them regardless.
Who makes that decision as to adding someone else to the mix? I'm seeing 'trustees', is that the pension company?

When you marry, any existing will is automatically revoked. It wouldn't surprise me if the same applied to pension nominees.

This does not happen. You should update your beneficiary either way if you remarry.

Yes what they are saying is correct. It is very rare however for the wishes not to be adhered to but if it has not been updated and there are major family changes then yes it may happen.

@insideoutsider I'm sure there are many many people who don't know this.

Is it a defined contribution pension?

If so, probably the nominees. (As I understand it db pensions tend to have their own rules about any continuing payments after the death of the pension holders)

Your pension is not covered by your Will.

He named his nominees and didn’t ever update. The trustees of the pension only have his nominees to go on.

Really interesting. Thank you for all your replies.

As an adult with his faculties intact I think whoever he mo.onated on the form will stand. If he wanted to change it after his marriage then.he could have done so.