55 yr old widow-what happens to hubbys pension?

xylophone

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/181237/single-tier-pension-fact-sheet.pdf

See above regarding the single tier state pension.

And see page 12 of https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/181235/derived-inherited-entitlement.pdf re inheritance of additional state pension in scenario 2 " where the Dependant reaches SPa in
single tier but the Contributor reaches SPa or dies in the current system"

JezR

In summary in your situation at your own state retirement age:

- no inheritance from husbands basic pension (but that doesn't seem to matter as you have or are going to have enough contributions for a full single tier one in your own right, plus any of your own accrued second pensions)
- inheritance of 60% of your husband's SERPS, based on him being born in 1949
- inheritance of 50% of your husband's SSP
- inheritance of 50% of your husband's Grad

You mention a 'works pension'; if that was contracted out, SERPS and SSP would not have accrued for the period of contributing to this pension.

margaretclare

What many people don't realise is that when you pay in to the NI system during your normal working life, it isn't like a pension savings scheme or insurance policy which is worth something in cash. It goes to pay for all the people who are in receipt of pensions and benefits at the time. So your husband wasn't saving up for his pension but making it available to you, assuming you survived him. He was paying for pensions of people at the time. I'm not quite clear why you think you should be able to inherit it. You can inherit a proportion of his SERPS/S2P as pointed out above, but not the state pension.

Incidentally, my first husband died in his 50s and so, like yours, he never saw his state retirement pension. He had no SERPS and I inherited nothing. I began to receive my own state retirement pension based on my own earnings, when I became old enough.

angelatgraceland

Maybe that is what I am thinking of margaretclare. I don't know anything about Serps or SSps to be honest! He was the one to study pensions whilst I did all of the other finances. Yes-I understand what you say about the state pension being different and not saving it etc-I always knew that part. Just that people have raised these issues with me and I don't know the answers! I will have to find out about serps! I really have no idea

margaretclare

Try this: http://www.nidirect.gov.uk/serps-and-the-state-second-pension

angelatgraceland

Now I have to somehow find out if he had SERPS. I don't think it was mentioned so I presume not. Maybe if I check wageslips it will show. Thankyou all . especially for the links as these saved me a lot of hassle looking for the right parts to read on the website!

jem16

angelatgraceland wrote: »

Now I have to somehow find out if he had SERPS. I don't think it was mentioned so I presume not. Maybe if I check wageslips it will show. Thankyou all . especially for the links as these saved me a lot of hassle looking for the right parts to read on the website!

It won't show on wageslips unless you can work out if he paid less NI due to being contracted out. Who was his works's pension with?

Easiest way to find out if you're due anything is to apply for a state pension forecast. Part if that asks for your husband's NI number ad they will then include what you would inherit.