We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Is a pension part of the 'Estate'
tanith
Posts: 8,091 Forumite
If you are nominated in a will to receive a pension when someone dies does this pension become part of their estate?
#6 of the SKI-ers Club :j
"All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke
"All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke
0
Comments
-
No, but I don't think you can nominate by will that way.
Pensions can be inherited by the beneficiary listed with the pension company such as the spouse or dependant children if the pension has not been taken/started before the time of death. If they are already taking a pension, and they die, if there was any provision for a spouse pension on death this would be paid ie a survivors pension. But this can cost more, and is the decision of the pension holder at retirement.0 -
No, it's almost always paid directly, but bear in mind that it may be subject to a special charge of 55% if the benefits have been crystallised or if the policyholder is over 75. There are exceptions if you're financially dependent or a spouse.I am a Chartered Financial Planner
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.0 -
Sorry now I think about it they are the nominated beneficiary listed with the pension company. Does this pension become part of the deceased persons estate? as there are some debts to be covered.#6 of the SKI-ers Club :j
"All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke0 -
Sorry now I think about it they are the nominated beneficiary listed with the pension company. Does this pension become part of the deceased persons estate? as there are some debts to be covered.
If there is a nominated beneficiary the money idoes not form part of the estate. If there is not then it does.0 -
Thank you I can put someones mind at rest now...#6 of the SKI-ers Club :j
"All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards