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protected rights pension
ellens
Posts: 33 Forumite
Hello. I dont suppose there is any way to solve my problem, BUT!
My husband died suddenly a few week ago. He left no life insurance. However there is a protected life pension of nearly £40.000. I have been told that because it is Protected, I cannot have a lump sum, but a pension only. Is there any way around this as I have dependant children, and no savings. A lump sum would mean a lot to us. Thank you.
My husband died suddenly a few week ago. He left no life insurance. However there is a protected life pension of nearly £40.000. I have been told that because it is Protected, I cannot have a lump sum, but a pension only. Is there any way around this as I have dependant children, and no savings. A lump sum would mean a lot to us. Thank you.
0
Comments
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I'm sorry for you loss.
Protected rights pensions are from contracting out of the second state pension. You cannot get this commuted to a lump sum.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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