Pensions - EoW and Beneficiary Drawdown

Paraplanning831 · May 12

Hi, just a few questions surrounding EoW and beneficiary drawdown plans.

1) Where an EoW/Nomination of beneficiary is completed, I am of the understanding that this is still at the discretion of the pension trustees. Will this remain the case after April 2027 where the pension becomes part of the estate?
Also with EoW, is there any discretion available to the nominated beneficiaries post-death? i.e. If investor nominates 50% to a child, 25% to another child, and 25% to a grandchild, could the beneficiaries amend this (post-death) so that the while amount just goes to one of them, or the splits change as they wish? Or will the trustees just pay this out according to the nominated splits?

2) I am of the understanding that even post April 2027, an inherited DC pension from a spouse would still retain IHT exemption through spousal exemption.
On the 2nd spouse's death, I understand that the beneficiary drawdown can be inherited again by the deceased's nominee/beneficiary. Does a beneficiary drawdown that is passed on from a beneficiary (so at least one removed from the original member) still retain access to full benefit options (i.e. drawdown, lump sum, annuity purchase) or are there any restrictions imposed on an already inherited pension?
For beneficiary drawdown, post April 2027, I assume there will be an IHT liability on every time that the beneficiary pension funds pass down to the next beneficiary on each death?

Thanks