In the event of my death- what happens to my pension fund? I assume it transfers to my wife? She is only 36 years old, and I have a fund of approx. €240k at the moment with pension term assurance of €1.25m attached to the fund. If I died I have been told that my fund would be increased by the €1.25m, and that my wife could use the fund to provide a pension for herself- is this correct? When can she draw these monies- when I died or would she have to wait until she was 60? Would she get 25% of the fund tax free like I would? Would any tax i.e. income tax or probate be deducted before she had access to the money? How long does it usually take before she could access these monies? Apologies for the technical queries but just a bit worried about how this would work as almost all my life cover is pension term assurance.