Pensions & Death Benefits — Do They Form Part of Your Will?

Many people assume their pension will automatically pass to their family under their will. In most cases, this is incorrect. Pension death benefits are typically held in trust by the pension trustees and do not automatically form part of your estate.

How Pension Death Benefits Work in Ireland

Most Irish occupational pension schemes and personal pension arrangements (PRSAs, RACs) are structured so that death benefits are paid at the discretion of the trustees, not automatically through your estate. The trustees consider your nominated beneficiary form — but are not legally bound by it.

Why This Matters for Cork Will Planning

Nomination of Beneficiary Form

The most important step is completing and keeping updated your pension's Expression of Wishes / Nomination of Beneficiary form. This should be updated after any major life change — marriage, divorce, new children.

Frequently Asked Questions

Does my pension form part of my estate when I die in Ireland?

Usually not. Most Irish pension death benefits are held in trust and paid at trustees' discretion, guided by your nomination form. They typically do not pass through your estate.

What is an Expression of Wishes / Nomination of Beneficiary for a pension?

It is a form you complete with your pension provider nominating who should receive your pension death benefits. Trustees consider this but are not legally bound by it.

Should I include my pension in my will?

Your pension may not pass through your will. Ensure your nomination of beneficiary form is current. Hugh Phelan Solicitor advises on coordinating pension benefits with your overall estate plan.