UKAEA Pensions

• Change of address or bank details
• Payment of pensions
• Useful information
• Allocation of Pension
• Modification of Pension
• Graduated Pension
• DWP website

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Allocation of Pension

What is allocation?

When you finally retire and take your pension you have the option to give up part of your pension to provide benefits for another person after your death. This is known as allocation of pension. You may choose to add to the benefits you have already provided for your husband, wife or civil partner, or to provide for another person who is dependent on you.

You need to remember a number of points about allocating part of your pension.

• you give up part of your pension permanently;
• you cannot give up more than one third of your pension (sometimes this limit is lower);
• you must make your allocation decision before your pension is put into payment;
• you must be in good health (we will need proof);
• you cannot change or cancel the allocation, even if the person who would have received the benefits dies first;
• the pension you allocate is payable for life and is not affected if you get married again or enter into a civil partnership.

If you are interested in allocating your pension see Allocation of Pension for more details.