Does my state pension die with me?

Treasureisland

Anyone know the answer?

I am trying to (belatedly) do some financial planning in the event I drop dead tomorrow (which hopefully I won’t). I found the government website a bit confusing on the issue but basically am trying to find out if my wife will be entitled to any of my state pension should the worst happen. I am 65 and my wife is 63. I had 44 NI qualifying years at my retirement but now only 30 years is necessary! In fact, in 47 years of employment, I never missed a single month’s NI contribution, so I will feel severely miffed if my entire pension dies with me should I have a heart attack tomorrow. There was something on the government website about part of the pension being payable (Serps etc) to a widow but as I said it was somewhat confusing.

margaretclare

Yes, your state pension dies with you.

However, your wife can, at present, claim 60% of your SRP based on your contributions. If/when you die she can claim 100% of it compared to 60% now.

It's possible for a spouse to inherit SERPS/S2P. The amount depends on the year you were born. http://www.direct.gov.uk/en/pensionsandretirementplanning/statepension/DG_183780 50% according to the link.

It does, of course, work both ways i.e. she can inherit yours/you can inherit hers (assuming she has any).

McKneff

I imagine if the OPs wife is 63 she is already either claiming a pension in her own right or claiming a 60% pension on his contributions.

But on your death, she would be able to claim 100% pension if only claiming 60% now.

McKneff

margaretclare wrote: »

Yes, your state pension dies with you.

However, your wife can, at present, claim 60% of your SRP based on your contributions. If/when you die she can claim 100% of it compared to 60% now.

It's possible for a spouse to inherit SERPS/S2P. The amount depends on the year you were born. http://www.direct.gov.uk/en/pensionsandretirementplanning/statepension/DG_183780 50% according to the link.

It does, of course, work both ways i.e. she can inherit yours/you can inherit hers (assuming she has any).

I didnt know about inheriting serps, Margaretclare, the link was very interesting . Is it something that happens automatically or do you actually have to apply for it if your spouse dies.

margaretclare

McKneff wrote: »

I didnt know about inheriting serps, Margaretclare, the link was very interesting . Is it something that happens automatically or do you actually have to apply for it if your spouse dies.

I don't know. Best thing would be to follow up that link and then ask.

DH gets a lot of SERPS because he was never contracted-out into an employer's scheme. I get some, so whichever of us dies first, the survivor will be able to inherit.

anmarj

McKneff wrote: »

I didnt know about inheriting serps, Margaretclare, the link was very interesting . Is it something that happens automatically or do you actually have to apply for it if your spouse dies.

automatically, it is all worked out once the death has been reported.