Many members don’t realise that in most cases, their last will does not apply to their pension. This beta feature briefly explains how UK law works, and encourages them to set up their beneficiaries in case they die.
In the UK, a person’s last will does not apply to their pension pot. They have to specify their beneficiaries to their pension scheme master trust, helping the trustees decide who the pot should be passed to. Not many people know this, so not enough people do it.
If we send members an easy to understand notification and then guide them through the process of setting it up, we’ll significantly boost the number of people who do it.
What we're doing
We are in the process of building this feature as a React web app that connects to the Smart platform via oAuth and various APIs. This feature will be deployed as a closed beta trial with approximately 10,000 scheme members. Analytics will be captured and analysed to identify any opportunities for improvement. User feedback data will be captured via CSAT to understand how users feel about the feature.