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What happens to my drawdown pension when I die?

When you die your drawdown pension can be passed to your beneficiaries, in most cases free from inheritance tax.

If you die before 75, your beneficiaries can normally withdraw what they like from your pension tax free. If you die at or after 75, your beneficiaries can still withdraw what they like, but it will be taxed as their income.

You can nominate as many beneficiaries as you like and can change them at any time. The easiest way to do this is online. Just log in to your account and choose Account Settings, followed by Manage SIPP beneficiaries. Though these nominations aren’t binding they do let us know your wishes, which must be taken into account.

Please remember tax rules may change in the future. Our factsheet has more detail if you’d like to read more.

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