- Nearly half of couples do not know where their partner’s will is
- 58% in the dark about location of parent’s pension policies
New research from Canada Life1 reveals a widespread lack of awareness about where important family documents and financial policies are kept, leaving millions at risk of unnecessary stress, delays and even penalties during periods of bereavement.
Nearly half of UK couples (47%) admit they do not know where their partner’s will is kept, while two thirds (66%) are in the dark about the location of their parent(s) will. The gap widens further when it comes to siblings – 87% would not be able to locate their sibling’s will.
According to Office of National Statistics (ONS) data, private pension wealth in the UK is estimated at £4.2 trillion2, making it the second largest component of household wealth after property.3 Despite this, more than a third (37%) of those in a relationship would not know where to find their partner’s pension documents, with this figure rising to 58% when it comes to locating their parents’ pension policies.
If wills or pension policies cannot be located, executors and personal representatives may face delays in gathering the information needed to distribute assets and settle the estate, slowing down the probate process. With pensions coming into scope for inheritance tax from 2027 and personal representatives responsible for tracking down these policies, not knowing where to find the relevant documents could not only delay payments to beneficiaries but also increase the risk of penalties if an inheritance tax bill is not settled in time.
Wills and pension policies are just two of several important documents that families struggle to keep track of. Four in ten (40%) wouldn’t know where to find their partner’s life insurance policies, and nearly half (47%) wouldn’t be able to locate their partners’ debt and loan agreements.
Even fewer are confident they could locate their parents’ key policies if needed. Just under two fifths (38%) of those with living parents say they would be able to find one or both of their parents’ life insurance policies. Similarly, 41% would know where to find details of their parents’ savings and investment policies.
Liz Hardie, Tax, Trusts and Estate Planning Specialist, Canada Life said: “It’s easy to put off conversations about where important documents are kept, but the consequences of not knowing can be serious, particularly as previous Canada Life research4 has shown that the most common problem encountered by executors of a will is tracking down policy documents.
“Whether it’s delays in accessing funds, missing out on benefits, or facing unexpected liabilities, families could be left in a difficult position simply because they didn’t have the right information at hand.
“Make time for the conversations that matter. Knowing where key documents are kept isn’t just about being prepared for the worst, it’s about making life easier for everyone, whatever the future holds.”
ENDS
Notes to editors
1. Survey conducted by Opinium among a nat rep sample of 2000 UK adults between 7-10th October 2025.
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About Canada Life:
Canada Life is part of a group of companies controlled by Great-West Lifeco Inc., a Canadian headquartered, international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Through its subsidiary companies, Great-West Lifeco operates in Canada, the United States, and Europe. Great-West Lifeco trades on the Toronto Stock Exchange under the ticker symbol GWO and is a member of the Power Corporation group of companies.
Canada Life Limited began operations in the United Kingdom (UK) in 1903 and provides UK individuals and businesses with a range of retirement, investment, insurance and wealth solutions. Canada Life offers individual annuities, pension de-risking solutions, home finance, estate planning and investment options, and workplace protection products.
Canada Life Limited (no.973271) is registered in England and Wales, authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Stonehaven UK Limited (no.05487702), trading as Canada Life, is registered in England and Wales and is authorised and regulated by the Financial Conduct Authority. Canada Life International Limited (no.033178C) and CLI Institutional Limited (no.108017C) are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority. Canada Life International Assurance (Ireland) DAC (no. 440141) and Canada Life International Assurance (Ireland) DAC are authorised and regulated by the Central Bank of Ireland.
Canada Life Asset Management is the brand for investment management activities undertaken by Canada Life Asset Management Limited (no.3846821), Canada Life Limited and Canada Life European Real Estate Limited (no.03846823). Canada Life Asset Management Limited is authorised and regulated by the Financial Conduct Authority.
Please note that while Canada Life Limited and Canada Life Asset Management Limited are regulated as stated above, property management and the provision of commercial mortgages are not regulated activities.