Probabate question regarding pension

mariejader

Hi I hope someone can help me with the following questions from form IHT205(2006) Probate Return of estate information

Question 7

Did the deceased have any kind of pension arrangement other than state pension?


I am not sure if this means pension from employment that my mother had undertaken? if this is the case then no she only had old age pension, but she had two pensions that were from my late father's employers they paid half of the full amount each month to my mother.

Question 8

Did the deceased:

Receive benefits from an alternatively secured pension fund as the original scheme member?

Receive benefits from a dependant's pension from an alternatively secured or unsecured pension fund?

Change or dispose of their pension in the 2 years before they died? ignore any pensions paid to a surviving spouse or civil partner.

Other than her old age pension and my late fathers pensions she did not have any other pension.

My father died in 2005 not sure if this makes any difference and my mother died a few weeks ago

*Robin*

mariejader wrote: »

Hi I hope someone can help me with the following questions from form IHT205(2006) Probate Return of estate information

Question 7

Did the deceased have any kind of pension arrangement other than state pension?


I am not sure if this means pension from employment that my mother had undertaken? if this is the case then no she only had old age pension, but she had two pensions that were from my late father's employers they paid half of the full amount each month to my mother.

Question 8

Did the deceased:

Receive benefits from an alternatively secured pension fund as the original scheme member?

Receive benefits from a dependant's pension from an alternatively secured or unsecured pension fund?

Change or dispose of their pension in the 2 years before they died? ignore any pensions paid to a surviving spouse or civil partner.

Other than her old age pension and my late fathers pensions she did not have any other pension.

My father died in 2005 not sure if this makes any difference and my mother died a few weeks ago

I've just done form IHT205 and got stuck on the same question. The Bereavement Advice Centre told me to call 0845 302 0900 - I couldn't find a geographic alternative number, but must say that the 'phone was answered very quickly and the young man on the other end told me the correct thing to put after asking a couple of questions about my late DH's pension provider.

HTH.

The_Governor

Interestingly, I've hit the same question, what was their general advice Robin?

pattycake

We had exactly the same difficulty. We answered "Yes" to the question as my father had an occupational pension. We then filled in the long application which is for inheritance tax purposes. I had to ring the help line on another matter and was told it was unnecessary to have completed the long form as it was an "excepted estate" that is, under the threshold.

We were told to answer "No" to the pension question. It is very confusing and I am glad we are not the only ones to have fallen foul of this question.

getmore4less

I think the key/clue is

alternatively secured pension fund

readup on those and it might help clarify

The_Governor

getmore4less wrote: »

I think the key/clue is

alternatively secured pension fund

readup on those and it might help clarify

I've certainly tried that but anything I find seems to be based on an assumption that you know what "Alternatively secured" means already...

getmore4less

The_Governor wrote: »

I've certainly tried that but anything I find seems to be based on an assumption that you know what "Alternatively secured" means already...

most pensions are not.

http://www.hmrc.gov.uk/cto/customerguide/page24-1.htm

What is an alternatively secured pension?
An alternatively secured pension is one which provides for payment of income withdrawals direct from a money purchase arrangement (link to money purchase arrangement in the glossary) to a member aged 75 or over and which meets the pension tax rules for registered pension schemes. There are restrictions over the amount of income that may be drawn each year which means that there will almost always be funds left-over on the scheme member’s death.

http://pensionadvicecentre.co.uk/about-pensions/alternatively-secured-pensions/

The Alternatively Secured Pension (ASP) was introduced as part of the simplification regime. The alternatively secured pension is only available from age 75 and is a form of Pension Fund Withdrawal (Income Drawdown). Instead of buying an annuity at age 75, an individual can continue to invest their pension savings and draw an income from their fund within laid down limits.