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Pension

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hi all my dad died 2013,he was 79, recently I received a letter about a pension he had, he must have forgotten about it, anyway they say we have to have the payments yearly, as government rule states this, is this right, can we not ask for a lump sum, it is only a small amount about £300 a year.
thanks in advance

Comments

  • PensionTech
    PensionTech Posts: 711 Forumite
    Legislation does permit the scheme to pay you a lump sum rather than an annual pension. However, the scheme doesn't have to allow this. Write to them and see what they say. Ask them if they will pay the benefit as a trivial commutation lump sum death benefit. If they don't, then you can't make them, but at least you tried.
    I am a Technical Analyst at a third-party pension administration company. My job is to interpret rules and legislation and provide technical guidance, but I am not a lawyer or a qualified advisor of any kind and anything I say on these boards is my opinion only.
  • Legislation does permit the scheme to pay you a lump sum rather than an annual pension. However, the scheme doesn't have to allow this. Write to them and see what they say. Ask them if they will pay the benefit as a trivial commutation lump sum death benefit. If they don't, then you can't make them, but at least you tried.
    thanks will try an write a letter today, I am not very savy on these things and hope I can word it right, thanks again for your help
    Lyn
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    getlyn62 wrote: »
    thanks will try an write a letter today, I am not very savy on these things and hope I can word it right, thanks again for your help
    Lyn

    Come to think of it, it might be helpful if MSE were to post a few draft letters that people could adapt for that sort of purpose.
    Free the dunston one next time too.
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