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  • FIRST POST
    • aayush
    • By aayush 15th Sep 17, 8:07 PM
    • 640Posts
    • 24Thanks
    aayush
    Pensions Transfer
    • #1
    • 15th Sep 17, 8:07 PM
    Pensions Transfer 15th Sep 17 at 8:07 PM
    Hi

    Hope this question has not been asked before by someone else

    Are Pensions transferable to next of kin in case the person who pension it is passes away say wife pass away will it was given to the husband and if no husband then to the son

    Private and company Pensions
Page 1
    • Aegis
    • By Aegis 15th Sep 17, 8:25 PM
    • 4,761 Posts
    • 2,842 Thanks
    Aegis
    • #2
    • 15th Sep 17, 8:25 PM
    • #2
    • 15th Sep 17, 8:25 PM
    It depends on the pension type. If it's entirely an income, then sometimes there is a survivor's pension for a spouse. If it's an investment-based pension then there's usually more flexibility to pass it not just to a spouse but to anyone else as well.
    I am an Independent Financial Adviser
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
    • aayush
    • By aayush 15th Sep 17, 9:12 PM
    • 640 Posts
    • 24 Thanks
    aayush
    • #3
    • 15th Sep 17, 9:12 PM
    • #3
    • 15th Sep 17, 9:12 PM
    ok one further question I have 3 policies which are frozen at present
    am aware I can take 25% at 55 which 75% from the three will be allowed?

    2 used to pay my self and one is x employer
    • Linton
    • By Linton 15th Sep 17, 9:18 PM
    • 8,214 Posts
    • 8,087 Thanks
    Linton
    • #4
    • 15th Sep 17, 9:18 PM
    • #4
    • 15th Sep 17, 9:18 PM
    ok one further question I have 3 policies which are frozen at present
    am aware I can take 25% at 55 which 75% from the three will be allowed?

    2 used to pay my self and one is x employer
    Originally posted by aayush
    It isnt clear to me what you mean. However this may help.....

    Each pension is treated separately - ie 25% of each pension pot is tax free. You cant get one pensions 25% from another pension.
    • aayush
    • By aayush 15th Sep 17, 9:34 PM
    • 640 Posts
    • 24 Thanks
    aayush
    • #5
    • 15th Sep 17, 9:34 PM
    • #5
    • 15th Sep 17, 9:34 PM
    as I have 3 pensions will I only get 25% from one of three poices
    • xylophone
    • By xylophone 15th Sep 17, 10:33 PM
    • 22,881 Posts
    • 13,243 Thanks
    xylophone
    • #6
    • 15th Sep 17, 10:33 PM
    • #6
    • 15th Sep 17, 10:33 PM
    http://www.scottishwidows.co.uk/extranet/literature/doc/FP0461

    You say that you have three "policies" and mention that one of these was in connection with an ex employer.

    What kind of policy is this? Or do you in fact mean that you have a deferred defined benefit pension?
    • aayush
    • By aayush 23rd Sep 17, 4:03 PM
    • 640 Posts
    • 24 Thanks
    aayush
    • #7
    • 23rd Sep 17, 4:03 PM
    • #7
    • 23rd Sep 17, 4:03 PM
    http://www.scottishwidows.co.uk/extranet/literature/doc/FP0461

    You say that you have three "policies" and mention that one of these was in connection with an ex employer.

    What kind of policy is this? Or do you in fact mean that you have a deferred defined benefit pension?
    Originally posted by xylophone
    all 3 polices are frozen
    • pip895
    • By pip895 23rd Sep 17, 4:16 PM
    • 340 Posts
    • 181 Thanks
    pip895
    • #8
    • 23rd Sep 17, 4:16 PM
    • #8
    • 23rd Sep 17, 4:16 PM
    You can get 25% tax free from each of the three pensions
    • aayush
    • By aayush 23rd Sep 17, 4:43 PM
    • 640 Posts
    • 24 Thanks
    aayush
    • #9
    • 23rd Sep 17, 4:43 PM
    • #9
    • 23rd Sep 17, 4:43 PM
    How can I estimate figure of what i can get from each pension polices
    • happyandcontented
    • By happyandcontented 23rd Sep 17, 5:17 PM
    • 735 Posts
    • 1,453 Thanks
    happyandcontented
    How can I estimate figure of what i can get from each pension polices
    Originally posted by aayush
    If you know what is in each pot work out 25% of that number. So, say pot 1 has 20k in it you can take 5k tax free.
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