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Standard Life is a major UK pension and savings provider, now part of the Phoenix Group. It manages pension pots for millions of customers across personal pensions, workplace pensions, SIPPs, and annuities. When a Standard Life pension holder dies, the fund value can be paid to a nominated beneficiary or eligible dependant. These funds sit outside the estate and do not normally require probate.
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In most cases, no. Standard Life pension funds are held in a discretionary trust, meaning they fall outside the deceased's estate. Standard Life can pay the death benefit directly to the nominated beneficiary without a Grant of Probate.
If there is no nomination and no suitable beneficiary, the fund may be paid to the estate. In that case, you may need to apply for probate before the funds are distributed.
For defined contribution pensions and SIPPs, the death benefit is the full fund value at the date of death. Standard Life typically offers beneficiaries the following options:
For older with-profits or endowment-based policies, the position may differ. Check the original policy documents or contact Standard Life directly.
Standard Life pension holders are asked to complete an expression of wishes form specifying who should receive the fund. The trustees consider this carefully but retain discretion — keeping the fund outside the estate for IHT purposes. In practice, Standard Life almost always follows a valid, current expression of wishes.
Standard Life customers can update their expression of wishes online through the Standard Life app or customer portal. Doing so after a major life event is straightforward and takes only a few minutes.
For the latest guidance, see GOV.UK's page on tax on pension death benefits.
Currently, Standard Life pension funds fall outside the estate and are not subject to inheritance tax. From 6 April 2027, proposed changes will bring unspent pension funds within the scope of IHT.
Read our guide to pensions and inheritance tax from April 2027 and the inheritance tax guide for 2026/27.
Without a nomination, Standard Life trustees will exercise discretion, typically paying to the surviving spouse or civil partner. If no suitable beneficiary is found, the fund may be paid to the estate, making it subject to the probate and estate administration process.
From April 2027, unused pension funds will be subject to inheritance tax. Learn what's changing and how it affects bereaved families.
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