What happens to the Members remaining pension assets on death?
During the lifetime of a Member they have sole entitlement to the benefits available from their plan. However, after the Members death the residual value is available to the Named Beneficiaries. For non-Guernsey residents this means the Members spouse, his/her dependants, relations who are also beneficiaries under the Members will or other persons appointed to benefit from the Members estate by will. Payments to beneficiaries may be made in any of the following ways. Payment of an annuity to the Members spouse or named beneficiary (ies). Payment of the residual value of the Members plan as a lump sum to the members spouse or named beneficiary (ies). Transfer of the residual value of the Members plan to a new QROPS plan(s) or third party plan(s) or to a Trust for named beneficiary (ies). Retention of the proceeds of a Members plan in trust for distribution at a predefined date or future event (within 2 years of the Members death). Winding up of the Members plan and payment into their es
