Widow's Pension - large age difference.

PennyForThem_2

Did your husband work for a Public Authority - Council, teacher etc?

ou will be entitled to part of his pension if he dies, as a widow

Jillyan

Is your husband's life insured? Sadly, no. We couldn't afford the premiums.
Did your husband work for a Public Authority - Council, teacher etc? Yes, Fire Brigade. I will be entitled to half his pension.
As you are only 50, you could find a job, work for the next 15 years and pay 15 years NI contribution, that will help towards your state pension. In an ideal world, yes, but in a rural area like ours, easier said than done. And transport costs into the city to work are prohibitive. Catch 22 really.

You have all been very helpful, thank you. I have done a forecast and it seems I won't be entitled to any state pension in my own right until I'm 65 or 66. It's the inbetween time my hubby is worried about should he die before then. From what I've been able to work out, I may be entitled to some 'bereavement' allowance while my son is still in education, which together with the half occupational pension, should keep the wolf from the door. After that...

sleepless_saver

Jillyan wrote: »

Is your husband's life insured? Sadly, no. We couldn't afford the premiums.
Did your husband work for a Public Authority - Council, teacher etc? Yes, Fire Brigade. I will be entitled to half his pension.
As you are only 50, you could find a job, work for the next 15 years and pay 15 years NI contribution, that will help towards your state pension. In an ideal world, yes, but in a rural area like ours, easier said than done. And transport costs into the city to work are prohibitive. Catch 22 really.

You have all been very helpful, thank you. I have done a forecast and it seems I won't be entitled to any state pension in my own right until I'm 65 or 66. It's the inbetween time my hubby is worried about should he die before then. From what I've been able to work out, I may be entitled to some 'bereavement' allowance while my son is still in education, which together with the half occupational pension, should keep the wolf from the door. After that...

Bereavement allowance only lasts a year, and widowed parents allowance would stop when you stop getting child benefit for your son. If that happens before you reach state pension age then you will have a period relying only on the half occupational pension.

Have you considered whether you can afford a term assurance policy for even part of the period before you reach state pension age, rather than a whole of life type policy which will definitely cost more?

atush

Also consider moving closer to civilisation/work/public transport, or have a plan to now or should the worst occur. That will make getting back into employment easier.

Spirit_2

Jillyan wrote: »

leaving me to fall at the feet of the state in my own right.

Why would you plan to do this as a lifestyle choice?

I hope the half occupational pension is sufficient (but most of all that you are many years from needing it) but if there is a probability of you needing state support then you should take personal responsibility for mitigating it.

Having not been a stay at home mum, being a similar age to you and having worked all through my adult life I do not want to think I will be subsidising you because you purposefully did not plan.

I live in rural area, no bus, 3 miles to shop and a 56 mile round trip to work.

Since a teenager my DD has done the same travelling to maintain a relatively low paid job whilst studying.

You need to motivate yourself to provide for yourself.

Oldernotwiser

With a minimum of 15 years working life ahead of you, I really think that you should be looking to find a job to support yourself or at least to do some training/education to learn some skills.

It sounds as if you don't drive and, if that is the case, now could be a good time to learn.

mumps

Will you get a top up on his pension for your son, I am pretty sure you do in the police pension so may be similar.

margaretclare

The cost of life assurance for your husband you say was prohibitive, yet this is just his and your main worry at the moment. He's only 70, he may live a long time yet, and hopefully will. However, I had a wry smile at the not affording life assurance. My late first husband 'didn't believe in' life assurance when he was a young husband and dad. There's such a thing as false economy i.e. there are certain things that should be afforded, never mind what else has to be left out. My grandad discovered that when my granny died and he hadn't the price of her funeral. He is said to have growled to my mother 'Get that bairn insured'.

It was my misfortune to have married a man who 'didn't believe in' life assurance, and by the time he did, his health was badly damaged. Nevertheless, he did take out an insurance in the last few years of his life and this did pay out enough to cover his funeral. His death coincided with my redundancy so I was left with a mortgage to pay.

I agree with those who said 'look into some form of life assurance now'. And also, take control of your life, you have many years ahead of you and you still have a future. Hopefully your husband may live a good few years yet - people are living to 100 nowadays!