Nominating a helper to collect benefits or a pension for you :Cross Stitch – Pensions and retirement planning

There may come a time in your life when you can still manage your finances but it’s difficult to get to the bank. Or you may require someone to receive payments on your behalf. For such scenarios, you can nominate a helper, such as a trusted friend or relative, to assist you.

You may want to set up your own Lasting Power of Attorney (LPA). LPA allows you to appoint a friend, relative or professional to make decisions on your behalf if you’re no longer able to. These decisions relate to things like your property, money and welfare .

This option is suitable if you want to formalise the arrangement where your relative or trusted friend accesses your account as your agent.

You will still need to discuss the payment arrangements with your bank or building society.