One in four couples (26%) have failed to discuss what will happen to their pensions in the event that one partner dies before the other. In a survey of 2,002 couples over the age of 40, it was also discovered that making a will was the only form of financial planning 13% of couples have undertaken.

According to the research, less than half of couples (46%) have made joint retirement arrangements to ensure that when one partner dies, the other continues to receive an income. A gender divide identified by the study found that 10% of women plan to rely on their partner’s income in retirement, compared to 5% of men who said the same. Although 65% of respondents said they would rely on their own pension savings, 17% admitted they did not know what their main source of income would be in retirement.

Expats pensions can help look at the pension you have and compare them to a QROPS (Qualified Recognised Overseas Pension Scheme), which can highlight the best retirement arrangements for a couple or individual’s needs. Taking into account what benefits will continue after one partner dies is an important part of selecting the right solution. Retirement income is not the only issue couples have failed to broach with each other as 12% of respondents do not know where they will live when they exit the workforce. With 9% planning to split their time between the UK and somewhere overseas, and a further 6% intending to retire abroad altogether, it is paramount they stay clued up on retirement provision.

State pension for British expats does not rise annually in line with the consumer prices index in a number of countries, meaning its value could fall overtime for those living overseas.