An Expression of Wish is one of those simple but powerful instructions that helps make sure your clients’ voices are heard. It tells us who they’d like their pension benefits to go to, giving reassurance that their intentions are understood. Supporting clients with this small step can make a big difference later on.
Download the SIPP Expression of Wish form.
What is an Expression of Wish?
An Expression of Wish lets a client set out who they’d like to receive their pension benefits when they die. It isn’t legally binding, but it’s one of the most important pieces of guidance trustees and administrators use when making decisions.
On the Expression of Wish instruction, clients can:
- Name individuals, charities, or trusts.
- Split benefits between different beneficiaries using percentages.
- Choose a drawdown option, which allows Parmenion to offer drawdown to any beneficiary, regardless of whether the beneficiary is a dependant or was specifically nominated by the client.
- Complete a new form or online instruction anytime – this will override any previous instructions.
It’s designed to be clear, flexible, and easy to update. Life changes, and so can their Expression of Wish. By completing it, clients make sure their preferences are recorded in the simplest possible way.
Why it matters
Having an Expression of Wish in place helps avoid unnecessary delays or confusion. Without it, administrators have far less clarity about a client’s intentions, which can slow things down and increase the risk of unexpected outcomes for loved ones. With it, there’s a clear record to guide decisions.
For clients, this is ultimately about peace of mind. Advisers often find this helps clients feel more in control of their future planning.
How Parmenion supports advisers
We know advisers want a process that’s simple, consistent, and easy to manage. Parmenion makes a client's Expression of Wish easy to find and update. When a new instruction is submitted, whether that's online or by a signed document, it automatically replaces any previous version.
We collect the essentials: beneficiary details including name, date of birth, relationship, and the proportion of benefits. There’s also an additional information section for clients to add any extra details they would like Parmenion to consider.
Once complete, a client's expression of wish can easily be updated:
- Online using the 'SIPP Expression of Wish' tool - by the adviser or client.
- By sending the Expression of Wish form to us.
- On the Parmenion app for clients.
You’ll also find 'how-to videos' and knowledge articles for extra support on our platform.
You can view our Consumer Duty hub for any further information you may need to support vulnerable customers with additional needs.
We’ve made this process as straightforward as possible so you can focus on your clients.
What happens when a client dies?
When a client dies, the trustees or administrators start by reviewing their Expression of Wish form. It’s the clearest indication of intent and carries significant weight. If the named beneficiaries can’t receive the benefits, for example if they’ve passed away, trustees will consider other potential beneficiaries.
Trustees always have discretion, which allows them to make fair and appropriate decisions based on circumstances. The process is handled carefully and compassionately.
Need more help?
Here’s some of our most commonly asked questions…
Can the Expression of Wish be updated any time?
Yes. Clients can update their Expression of Wish at any time, and a new form always overrides older versions. Clients can even make the updates themselves on the website or via the Parmenion app if they have a login.
Who can be named?
Clients can name individuals, charities or trusts. They can also split benefits between several beneficiaries.
Are administrators legally bound to follow the form?
Not legally, but it strongly guides trustee decisions and is the primary reference point.
What happens if a named beneficiary has passed away?
Trustees use their discretion to consider other appropriate beneficiaries.
How can advisers add or amend an Expression of Wish?
You can quickly and easily do this once logged into the platform. Here's how...
This article is for financial professionals only. Any information contained within is of a general nature and should not be construed as a form of personal recommendation or financial advice. Nor is the information to be considered an offer or solicitation to deal in any financial instrument or to engage in any investment service or activity.
Parmenion accepts no duty of care or liability for loss arising from any person acting, or refraining from acting, as a result of any information contained within this article. All investment carries risk. The value of investments, and the income from them, can go down as well as up and investors may get back less than they put in. Past performance is not a reliable indicator of future returns.
