| Related: | Personal Finance•Investing•Pensions |
It will die with you.There may be an element that would pass to a widow or dependants but you would need to check this. Not all do.
Hi,
It depends on what type of pension it is...
1) Money purchase / defined contribution:
The value of your fund will form part of your estate and can be inherited, though there may be tax implications or the pension may have to stay as a pension fund - I'm not sure how the tax will work out.
2) Final salary / defined benefit:
You dependents will get a percentage of pension payout(normally 2/3 of what you'd have got had you been alive).
As with all things, check the specific regulations of the pension(s) you belong to.
Either;
Read the T&Cs (results will differ) OR
Ring them up and ask them (most have a customer services helpline).
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