Making your wishes known
As an active member of the Uniper Pension Plan (UPP) you need to complete two separate Expression of Wish forms to outline who you would like your death benefits paid to:
- To tell the UPP administrator, Fidelity who you would like your UPP benefits paid to.
This can be completed on PlanViewer or by requesting a form from Fidelity. - To tell the Uniper Trustees who you like your Life Insurance lump sum death benefit to be paid to.
This is an automatic entitlement (for members of the UPP) under the Uniper Group Life Scheme at a rate of six times your basic annual salary. It is a benefit provided by Uniper and administered by the Uniper Trustees. This is completely separate to your benefits with Fidelity and a separate Expression of Wish for the Life Insurance lump sum must be completed via the Benify flexible benefits platform.
What is an Expression of Wish?
Your UPP benefits are considered separately to the rest of your Estate when you die. They are 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 any death benefits are payable under the UPP rules, the UPP administrator, Fidelity, usually decides who they should go to.
If a lump sum is payable under the Uniper Group Life Scheme (the life insurance policy) then Uniper UK Trustees Limited (“Trustee”) decides who it shall go to.
To help make these decisions, both Fidelity and the Trustee ask that you complete an Expression of Wish, which lets them know who you would prefer the benefits to be paid to. Please remember, these are separate forms and must be completed in different ways (see details on how to complete the forms below).
Fidelity and the Trustee do not have to follow your wishes (for example, the information may be very out of date), but it is an important piece of information for them to consider.
Making an Expression of Wish could also make the decision-making process much quicker and may prevent delays in any lump sum being paid, which can have tax implications.
You can read more about death benefits and how they are paid in your UPP guides 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 Uniper Group 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
Please follow the relevant process below, depending on which Expression of Wish you want to complete.
Fidelity Expression of Wish for pension benefits
The easiest and quickest way to complete an Expression of Wish for your UPP death benefits is to go online and complete a form using either:
- PlanViewer or
- under the ‘myPlan’ section at www.fidelitypensions.co.uk
Click on ‘Profile and Settings’ then ‘My Beneficiaries’ It will only take a few minutes.
Alternatively, you can request an Expression of Wish form from the UPP administrator, Fidelity using their contact information, on the contact details page. Once complete, please return it to Fidelity 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.
Uniper Expression of Wish form for Life Insurance benefit
This form should be completed using the Benify flexible benefits platform. You can find step-by-step details below:
- Log on to Benify and click on your name in the right-hand corner.
- Go to ‘My Account’ / ‘Beneficiaries’ / ‘Add Beneficiary’.
- Enter the name and contact details of the person you wish to leave the lump sum to.
- If you want to leave it to more than one beneficiary select ‘Add Beneficiary’.
- Enter % amount for each beneficiary
- Tick the box and click ‘Save’.
Keeping your Expression of Wish up to date
Once you have completed your Expression of Wish forms it is important to keep them 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.
Please remember that, as an active member of the UPP, you need to complete two separate Expression of Wish forms, as your death benefits from the UPP and your lump sum payable under the Uniper Group Life Scheme (the life insurance policy) are considered separately. See details above.
