Natwest Pensions - Death before 75

taylormc

Good Evening all,

My father unfortunately passed away on Saturday evening. It was very sudden and he was only 50. The funeral costs will be extortion and he didn't have any plans in place - or really indicate his wishes should the time come to say goodbye. I do know he worked at Natwest for 8 years and would have had a pension in place with them. I have no idea how much it would have in it but I desperately need to gather all the funds I can to pay off the loan I'll have to take out for his funeral. I have no savings, my dad was in debt and didn't have anything himself. I have a 2 year old daughter and a family to support. Without the headstone I'm looking at 7 and a half grand as it is! No wake or anything. It's so horrible to have to worry about money when all I want to do is grieve for him. He was a wonderful man and I should be spending my time thinking on him rather than money.

Has anyone had any dealings with Natwest as a next of kin accessing a lost one's pension? I'm going to call them tomorrow morning and arrange to send them a death certificate. Does anyone have information as to how long it'll take to receive payment from them, whether it'd be monthly or a lump sum etc? My dad's divorced and I'm the oldest child. I know there are different rules for those under 75. I want to mentally prepare myself for the conversation I'll be having tomorrow.

Thank you for any help you can provide.

Silvertabby

I'm so sorry. I've been there, so I know what you are going through.

I'm afraid no-one here can really help you with your pension query - it depends on when he worked for Natwest, on the type of pension scheme he was in (DB or DC) and the scheme rules. When you ring them tomorrow, explain that you are dealing with your dad's estate, and that as he didn't have any savings any lump sum from the pension fund would be needed to pay the funeral bill.

Best wishes to you and your daughter.

dunstonh

Sorry for your loss.

but I desperately need to gather all the funds I can to pay off the loan I'll have to take out for his funeral.

The funeral can be paid out of the estate. Is there anything in the bank accounts?

Has anyone had any dealings with Natwest as a next of kin accessing a lost one's pension?

Was he already retired and in receipt of the monthly pension income?

Does anyone have information as to how long it'll take to receive payment from them, whether it'd be monthly or a lump sum etc?

Dont get your hopes up. if he was already retired and in receipt of the pension then the pension income will likely cease (unless retirement was recent) and there will be no fund to pay out.

taylormc

My dad was not retired and he had no estate. He had nothing. He was only 50. He had a random brain hemorrhage at work and then he was gone. He wasn't prepared he didn't know it was coming. I'd also prefer you'd be more respectful. I am 23. My dad is dead. I don't want his money. I just want to pay for his funeral.

taylormc

His bank account was like minus 600. He had no savings. Nothing of value - not that I'd sell it if he did. He hadn't accessed his pension.

taylormc

Silvertabby wrote: »

I'm so sorry. I've been there, so I know what you are going through.

I'm afraid no-one here can really help you with your pension query - it depends on when he worked for Natwest, on the type of pension scheme he was in (DB or DC) and the scheme rules. When you ring them tomorrow, explain that you are dealing with your dad's estate, and that as he didn't have any savings any lump sum from the pension fund would be needed to pay the funeral bill.

Best wishes to you and your daughter.

Thank you greatly. I guess I'll just have to see what happens. I guess there's no way I can be prepared for that conversation. It's just been a real overload on the senses for the last few days talking to funeral directors and so on. Every time I have spoken to someone new about it, it forces me accept he's gone - the pension phone call will be the cherry on the cake really.

Thank you for your kind words. They are much appreciated.

Silvertabby

Sorry for your loss.

“ but I desperately need to gather all the funds I can to pay off the loan I'll have to take out for his funeral.
”
The funeral can be paid out of the estate. Is there anything in the bank accounts?

“ Has anyone had any dealings with Natwest as a next of kin accessing a lost one's pension?
”
Was he already retired and in receipt of the monthly pension income?

“ Does anyone have information as to how long it'll take to receive payment from them, whether it'd be monthly or a lump sum etc?
”
Dont get your hopes up. if he was already retired and in receipt of the pension then the pension income will likely cease (unless retirement was recent) and there will be no fund to pay out.

Dunston, he was just 50 and in debt. Unless he was in receipt of an ill health pension (doesn't seem to be the case) he may or may not have deferred benefits with Natwest.

taylormc - dunstonh is right when he says not to get your hopes up, however. You could face a number of problems with Natwest tomorrow. Are you sure that your dad has a pension with them? It's just that if he worked for them some years ago, he may not have accrued even service to entitle him to pension benefits, and so would have been offered a refund of his contributions when he left. If not, was he still married to your mum when he worked there? If so, he may have completed an expression of wish form nominating her to receive any death benefits. See what I mean about it being complicated?

I hope you get the answers you want tomorrow.

taylormc

He worked with them for 8 years, and only stopped working there a year - 2 years ago. My parents are divorced, so I think - well hopefully she'll lose any claim. She was terrible to him and the last thing he would have wanted would be his cheating ex-wife to take his money. I don't think he got any benefits back. He didn't get any extra money and went onto job seekers for a long time after he lost his job.

I didn't expect it to be simple. Companies will do anything they can to not pay out when people die or get hurt - I know that. At least now I have some insight into what I'll have to deal with tomorrow.

Keep_pedalling

Really sorry you are in this position, but do not get yourself into dept sorting out your father's funeral. If there is no money in the estate, you are not obliged to meet the costs. In this situation the responsibility falls on LA or hospital where he died to provide a simple but dignified funeral.

PeacefulWaters

taylormc wrote: »

He worked with them for 8 years, and only stopped working there a year - 2 years ago. My parents are divorced, so I think - well hopefully she'll lose any claim. She was terrible to him and the last thing he would have wanted would be his cheating ex-wife to take his money. I don't think he got any benefits back. He didn't get any extra money and went onto job seekers for a long time after he lost his job.

That timescale suggests that there might be a defined contribution fund which, if he did contribute, is good news.

I didn't expect it to be simple.

It might not be. There may or may not be a declaration of wishes as to who receives funds. The trustees have to exercise judgement too.

Companies will do anything they can to not pay out when people die or get hurt - I know that. At least now I have some insight into what I'll have to deal with tomorrow.

I think you'll find if there is a pot in a defined contribution scheme nobody's going to try and avoid paying out. The wider question becomes who should they pay out to.

Have a read about state help.
https://www.gov.uk/funeral-payments/overview

quotememiserable

taylormc wrote: »

Companies will do anything they can to not pay out when people die or get hurt - I know that. At least now I have some insight into what I'll have to deal with tomorrow.

It'll be useful to realise that you'll be speaking to the pension company, not the bank company. The two legally have to be separate entities. The pension company are obliged to pay out according to the scheme rules and they will do so, without any attempt to get out of anything. The key issue will be a) to find out if he was a member and b) what the scheme rules are in this sort of case.
Good luck and best wishes.