Survivor's pension - setting up a specific pot for inherited pensions

By default, if pensions are scheduled to continue in drawdown after the owner's death, the software will place the inherited pensions in one pot, named after one of the inherited pensions. This inherited pension will be set to be drawn upon 'as needed'. This pot does not appear in the drawdown pensions list. If you would like to be able to edit the inherited pension e.g. set a fixed level of income, designate beneficiaries etc, this can be achieved by creating an empty inherited pension. The software will then use this pot for survivor's drawdown.


Go to the Dashboard > '+' Button  > Pensions  > Drawdown Pensions to enter an inherited drawdown pension for the survivor. 

The owner should be the surviving partner; choose Future Inherited Pensions from the drop down option in Type.




If required, set a limit on how much income can be withdrawn from the survivor's drawdown pension. By default it will be set to As Needed. If you don't want this pension used, set to Do Not Allow. If you are going to set a planned withdrawal to take out a specific amount each year, set to Scheduled Only if you don't want any more than the planned withdrawal taken.

You needn't be concerned about the Start Withdrawals event at the top of the panel. Leave it set to Start as drawdowns can only begin once the pension is funded, after the client's death.


Select Growth to set the future growth rate on this pension. Otherwise, the software's default settings for from Plan Settings will be used.

Click Done to save your changes.

If you want the software to withdraw a specific amount from the pension each year, go to Planned Withdrawals  and set up a withdrawal of the required amount from the inherited pension to run from the first mortality event to the last event. 

Finally, go to the Let's See charts to check the results.