What would happen to my private company pension if i were to die before i am old enough to claim it?

by , 3 months agoOpen Question

Answers (3)

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.

by roseangel, 3 months ago

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.

by G-Man, 3 months ago

Either;
Read the T&Cs (results will differ) OR
Ring them up and ask them (most have a customer services helpline).

by ihateavatars, 3 months ago

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