If you should die before taking your lump sum or income, the total funds remaining in your Harsant SIPP will pass to your relatives, friends or your favourite charity.

A lump sum up to the current Lifetime Allowance can be paid tax free, while funds in excess of the allowance can be paid as a taxable lump sum or used to provide your dependants with their own pension. Or, they may choose to use the entire fund to pay a dependant's pension.

If you have already started drawing monies from your fund, the options are slightly different and if your beneficiaries wished to receive a cash lump sum this would be subject to tax. However, the entire fund can still be used to provide a dependant's pension.

Once you are over age 75, your complete fund could still be used to provide a dependant's pension. Tax free lump sums can only be paid to your favourite charity.

The Harsant SIPP allows you to plan for your own retirement; while being reassured that your dependent's will be cared for when you die.