New partner how effect pensions?

Esie

Hi all, being a frequent lurker I rather hoped the sage advice might stretch to me. This is all very premature but I feel better being armed with information in advance. Its how I tick.

Background:
I am 35 my husband was a teacher then worked for Royal Mail. He died in 2010. I have two children aged 3 and 5.

Incomes:
Royal Mail pension for me
Royal Mail pension for each of the children
Teachers pension for me
Teachers pension for each of the children
Bereavement benenfit
Child tax credit
Child benefit

I am beginning to think I can never really have a proper partner again or get married as there are repercussions with the pensions aren't there?

I appreciate the Bereavement benefit would stop, all right and good. But to lose the pensions too and would me cohabiting or remarrying affect the children's pensions too?

My late husband paid into those pensions and AVC's too, it just doesn't seem right for them to end under my life going on. I am so worried about a new partner feeling they having to support me. What if the relationship doesn't last? Do the pensions start again?

Ultimately I want to work again, but my children are very young and the finances and logistics of school and school holidays? I know many do it. Perhaps Im just feeling daunted by it all and feel I'm trapped.

ivyleaf

In your position I think I would contact the bodies that administer your pensions (i.e. the teachers' and Royal Mail schemes). I'm sure they would be best placed to help and advise

atush

I think you lose some widow's benefits if you remarry (but would have another income to help with expenses) but I don't think you would lose it if you were dating, or perhaps even cohabiting. This you would need to check with relevant authorities.

I know a girl who lost widow's benefits when she remarried, only to have the marriage fail shortly after. She married too soon, as he had visa issues. So tread carefully should you meet someone. Nothing wrong with a very long courtship ;-)

xylophone

http://www.teacherspensions.co.uk/
http://www.royalmailpensionplan.co.uk/

Anything here?

Royal_Male

Do check with the Pension Departments for Royal Mail and Teachers' pensions because the rules do vary and (certainly for Royal Mail Pensions) it will also depend on which part of the scheme your late husband was in.

Esie

Thank you all. I decided I had to approach the companies, although wanted to not really flag it up. But hey ho.
RM pension ok if cohabit.
Teachers not.
Children's portions stay in place whatever as long as they in full time education until 23.
If any relationship fails the pensions may, but only may be reinstated. Life's a risk. Another half and less £ or alone and more ?....

mgdavid

you'll be OK, you sound brave, sensible and level-headed. Still have lots of good life to look forward to, just take it one step at a time.

atush

You may also lose child tax credit- isn't that based on all adults in a household? CB is fine, don't know abt bereavment. You need the benefits forum for that one.

So, do make sure the new man knows how much you will lose by him moving in, and that he pays more into household finances to compensate.

Then, up your savings to that amt, as you will save on expenses, to build a fund in your name that will help should the relationship fail? Or be shared between the two of you should you be together until retirement or even marry.

In the meantime, build up your savings and investments while you are waiting to come across that perfect new partner.