Natwest Pensions - Death before 75

xylophone

Your father was 50 and started working for Natwest (RBS) when he was 40?

This was 2006? See http://news.bbc.co.uk/1/hi/business/4986124.stm

Did he just squeeze into the DB Scheme? Or DC?

Where was he working before that? Was he contributing to any kind of pension scheme then?

Are you sure that he had no savings or insurance policies?

Kynthia

The pension company won't try to avoid paying out, tge issue may be time to find his records, whether he even had pension, what type, what does it pay out in the event of death, and who does it pay out too. This will all be done according to the rules of the scheme he was in, if any, and may not be as quick as you need.

I'm sorry for your loss and it sounds shocking. I have no experience of this but I'm assuming there is no will and you and your siblings are his next of kin? There's a wills and probate part of the forum that might have other useful info for you (perhaps in Marriage, Relationships & Family).

Do you have information about anywhere he worked before Natwest?

iris

I am so sorry for your loss.


Why do you want to spend so much money on your Father's funeral? Surely a simple cremation would be more appropriate if money is short.


Have you had time yet to sort through your Father's paperwork?

Malthusian

Why in God's name are you proposing to spend seven and a half thousand that neither you nor your late father have on a funeral?

If that sounds harsh, it's not half as harsh as being seven and a half thousand in the red.

MEM62

taylormc wrote: »

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.

Dunstonh was not being disrespectful - just factual. Your post indicates that you are looking to contact NatWest and receive a speedy sum of money to cover the funeral costs. Dunstonh's point is that this is unlikely. If he was not collecting his pension then there may well be something to come into his estate but this isn't going to happen overnight.

If your dad was working did his employer have any kind of 'death in service' benefit in place for their employees?

As has already been mentioned, you are under no obligation to fund the funeral - although your desire to give your dad a dignified ceremony is understandable. If you are not in a position to afford this or can only do so with financial hardship and detriment to your family then you should not take on this burden. You mention that you are the eldest child which suggests your father has other children. Could this financial burden not be shared between all of his children? If not then as already suggested the LA can provide arrangements.

atush

I agree, contact his current employer. AS he died at work, there could be death in service. Also, there should have been an auto enrollment scheme at his work. This would be a DC pension that would pay out as cash. So first stop, call HR at his work.

Third, if there is a nat west pension from 10 years ago, when you contact them make sure you claim the pension and state your relationship- and the fact that he is divorced from your mother. He was probably still married to your mother way back then, so her name could be on the declaration. Second, you need to speak to your siblings and agree on payment of any funeral- as the money if it exists would be split between you if it doesnt go to your mother.

But if it is a DB scheme, it may have died with him. Unless any of your siblings are under 23 and still in education? But it would not go to you (unless there was a guarantee period).

So if he died in debt, you really should not be putting on such a funeral if you dont have the money for it. Contact the LA about paying for his funeral. And pay for/add a headstone later at your expense if you want to.

You owe it to your Daughter not to take on any such huge debt.

Good luck, and i am sorry for your loss.

HappyHarry

I'm sorry for your loss.

You say your father was working, is there any possibility that he may have had some kind of death in service benefit from his employer?

<Edit - just realised MEM62 has asked the same >

Companies will do anything they can to not pay out when people die or get hurt - I know that.

They really don't. You will find the vast majority of financial services companies you need to deal with will be very sympathetic and helpful. They will understand that you may be upset, and they will do their best to alleviate any unnecessary upset.

Linton

taylormc wrote: »

Good Evening all,
....... 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!......

This is extremely expensive for a funeral. My father's funeral was a quietly dignified cremation with his close family and friends present. The food for the gathering after the funeral included a few bottles of good wine and "finest" supermarket snacks. No-one wanted or expected more than that. His estate could have paid for more but that would have been totally inappropriate and could not have added to the effectiveness of the ceremony. The total cost was less than half what you are suggesting.

Do not go into debt to pay for an extravagent funeral. Something simple done well is far better and shows no disrespect. In fact dont go into debt at all - a long period of repayments isnt the way to remember and honour your father.

speakingofart

My father passed away very suddenly - a massive heart attack - in June. He left a will naming me as executor and I am still waiting for the various companies to sort out what pensions he had and to ascertain what they are paying out to the solicitor I've appointed. I say this not to be negative, but to tell you that everything is more complicated and takes longer than you think - for a start, if he didn't have a will, you'll need to get probate.

I would - gently - agree with those who say don't spend 7,500 on a funeral, please. I buried my dad, as he would have wanted, for just under 3,000 and this has been paid out of the estate. I appreciate that you don't have that luxury but please think about whether your dad would want you to go into debt for this.

Huge condolences for your loss, it is utterly terrible to lose someone so suddenly.