Don't rely on pot luck

FIVE-MINUTE GUIDE TO... EXPRESSION OF WISH FORM

- By Harvey Jones

IF YOU think your pension will automatically go to your partner or children when you die, then think again.

Without a simple bit of paperwork called an Expression of Wish form, you could be leaving the destination of one of your biggest assets up to chance.

Millions of savers risk their pensions landing in the wrong hands, getting tangled in red tape, or even hit by avoidable tax bills. But it only takes five minutes to sort it.

Also known as a beneficiary nomination, the Expression of Wish form tells your pension provider who you'd like to receive your pension when you die. It is not legally binding, but it is a powerful guide to ensure your wishes are respected. And yet, shockingly few people bother to fill one in, especially younger people.