Making your wishes known
A cash lump sum could be paid to those who matter to you if you die before taking your retirement balance.
A cash lump sum may also be payable if you die shortly after taking a pension from the Scheme. Please see the taking your retirement balance page for more information on the ways you can choose to take your retirement balance.
By making an Expression of Wish, you can have your say in who you would like the money to go to.
What is an Expression of Wish?
Generally, your Uniper pension is considered separately to the rest of your Estate when you die. It is not covered by your will and any lump sums payable should not be liable for Inheritance Tax (IHT).
The rules around IHT may change from April 2027 following announcements in the Government’s 2024 Budget; please see the information below.
If a lump sum death benefit is payable under the Scheme rules, the Trustees usually decide who this should go to. To help the Trustees make this decision, they ask that you complete an Expression of Wish form, which lets them know who you would prefer the lump sum to be paid to. The Trustees do not have to follow your wishes (for example the information may be very out of date), but it is an important piece of information for the Trustees to consider.
Making an Expression of Wish could also make the decision-making process for the Trustees much quicker and may prevent delays in any lump sum being paid, which can have tax implications.
The lump sum is separate to any pensions that may be paid to your dependants.
You can read more about death benefits and how they are paid in your Member Guide and on the your benefits page.
Changes to Inheritance Tax (IHT) and pensions from April 2027
From 6 April 2027, most unused pension funds and lump sum death benefits will be included within the value of a person’s Estate for Inheritance Tax purposes. The detail of this change, including its implementation and operation, is still to be confirmed following a government consultation.
The Trustees and Company will be monitoring the position and providing updates to members when the details are confirmed.
The Trustees and Company are not authorised to provide you with financial advice. If you feel you require financial advice, please check the help and advice page for details.
You can find more information on the changes, including the full government consultation at www.gov.uk.
Who you can include in your Expression of Wish
You can nominate:
- An individual or several people, including family members or other significant people in your life
- Charities or good causes – again, you can nominate more than one
- Other organisations such as a club – again, as above, you can nominate more than one.
For each nominated person or organisation, you need to confirm the proportion of your benefits that they should receive. The proportions should add up to 100%.
How to make an Expression of Wish
The easiest and quickest way to complete an Expression of Wish is to log in to your myESPS account. It will only take a few minutes. If you do not have a myESPS account, you can register for one now.
You can also find a step-by-step guide to completing an Expression of Wish online, below.
Alternatively, you can download and print an Expression of Wish form. Once complete, please return it to the RBP administrator, Railpen, using the address on the form.
You can complete a new Expression of Wish at any time and there is no limit on how many times you can update it.
Keeping your Expression of Wish up to date
Once you have made your Expression of Wish it is important to keep it up to date. This is because the person or people you wished to benefit previously may not be the same people you would choose today.
You can do that by following the how to Make an Expression of Wish process outlined above.
Your most recent Expression of Wish will override any previous forms you have submitted.
