Inheriting parent's pension

SplinterCell

Hello,

I recently lost both of my parents in the last 18 months. My father was 62 and died in January 2014 and my mother was 58 and died in January of this year.
Both were legally married.
As far as I am aware my father had a pension, however I am not sure of the specifics. The only documents I have relating to my father is his national insurance number and death certificate (he died abroad).
I would like to know if it is possible to inherit my father's pension and if so what I should do first in order to get the process started?

Any input will be appreciated.

Tigsteroonie

First I think you need to find the details of the - presumably private - pension (You cannot inherit a state pension.) If you cannot find any paperwork, try looking at their bank statements to see whether they were already receiving any income from a financial institution such as a pension company.

Then you need to read the details of that pension to see whether it had any clause regarding a residual pension to surviving children.

PasturesNew

Very few pensions are inheritable. They'll usually stop when the widow dies.

But, it's worth looking into it at least. Just don't be disappointed if you find there's nothing as that will mean your dad's pension was larger than it would've been if it had been inheritable and that meant he had more money during his life to enjoy more times/things.

SplinterCell

Tigsteroonie wrote: »

First I think you need to find the details of the - presumably private - pension (You cannot inherit a state pension.) If you cannot find any paperwork, try looking at their bank statements to see whether they were already receiving any income from a financial institution such as a pension company.

Then you need to read the details of that pension to see whether it had any clause regarding a residual pension to surviving children.

I wasn't aware that state pensions are not inheritable. I have no documents beyond my dad's NI number and certificate of death. He took all his peronal documents and unexpectedly died abroad and when I enquired about his documents, I was told that they had gone "missing".

Thanks for the input.

PasturesNew wrote: »

Very few pensions are inheritable. They'll usually stop when the widow dies.

But, it's worth looking into it at least. Just don't be disappointed if you find there's nothing as that will mean your dad's pension was larger than it would've been if it had been inheritable and that meant he had more money during his life to enjoy more times/things.

How would I begin? Is there a service that I could contact?
Thanks for the input.

mgdavid

SplinterCell wrote: »

........
How would I begin? Is there a service that I could contact?
Thanks for the input.

begin by putting together a list of his employers (company names, locations) and the approximate years of each employment.
Then contact the pensions dept of each one and ask them.

xylophone

Both were legally married.

To each other or to other people?

At all events, one would have expected any pension your father had to have passed to his widow, whether this was your mother or somebody else?

Mojisola

SplinterCell wrote: »

I recently lost both of my parents in the last 18 months. My father was 62 and died in January 2014 and my mother was 58 and died in January of this year.
Both were legally married.

Were they married to each other or did they have new spouses?

If so, the spouses might benefit from any pensions.

SplinterCell

mgdavid wrote: »

begin by putting together a list of his employers (company names, locations) and the approximate years of each employment.
Then contact the pensions dept of each one and ask them.

I see, thanks - really have no idea how to begin.

xylophone wrote: »

To each other or to other people?

At all events, one would have expected any pension your father had to have passed to his widow, whether this was your mother or somebody else?

Mojisola wrote: »

Were they married to each other or did they have new spouses?

If so, the spouses might benefit from any pensions.

Sorry for the ambiguity. They were both still legally married to each other when they died.

Thanks for the input.

SplinterCell

Just a quick question, is it really true that an unclaimed state pension cannot be inherited at all? I remember reading something about how inheritence rules in relation to pensions have changed recently.
Does this only apply to private company pension plans?

As far as I am aware my dad's pension has remained untouched. What happens to the money that was gathered if it cannot be inherited?

Ms_Chocaholic

Here's some info I found for you but not sure if it's relevant (I've not read the whole article):

http://www.thisismoney.co.uk/money/pensions/article-2775646/Now-children-WILL-able-inherit-nest-egg.html

SplinterCell

Ms_Chocaholic wrote: »

Here's some info I found for you but not sure if it's relevant (I've not read the whole article):

This is the exact article I have just been looking at. It details the recent changes which suggests that pensions can be inherited.

My dad's pension (as far as I am aware) has remained completely untouched.