Widows pension/Private pension

waterlily

Hi

I am not really money savvy but sadly, I lost my husband 18 months ago and am having to learn quick! Its a pretty basic question but I hope someone has the answer. I am in receipt of the widows pension but I also have a small private pension that I have the option to take should I wish. My question is...do I lose the widows pension if and when I choose to take my small pension?

Thank you

Waterlily

molerat

Unlikely but without more information on what the "widow's pension" actually is it is impossible to say

xylophone

You are receiving a widow's pension from your late husband's scheme but this should not affect your own pension arrangements?

A relative of mine received a widow's pension, her own occupational pension and a state pension.

waterlily

My husbands pension is state pension. Mine will be an occupational pension from a very long time ago. Because I am a full time carer for our daughter, I am also in receipt of certain benefits. I am aware that these will go as I will have the extra income from my pension. I am just concerned that my husbands state pension will be either reduced or nulled as a result of me taking my occupational pension early. Having worked out my finances, I will be able to survive if I am able to keep my husbands State pension without any other help.

xylophone

How old are you?

By "widow's pension", do you mean "Bereavement Allowance"?

Or do you mean that you are in receipt of state pension based on your late husband's contributions?

You mention taking your own pension - do you mean that you have a deferred DB pension from previous employment and have now reached Scheme Pension Age?

waterlily

I am 54. I am assuming it is based on my husbands contributions as the bereavement allowance is only paid for 52 weeks.To be honest I am totally confused about the whole thing. I know I received the widows parents allowance for 1 year and assumed it then went on to the WP. That's something else I would like to understand if anyone can clarify for me. Im afraid I am floundering a bit. The pension I have was from many years ago after 10 years service in a big company. It has built up quite a bit.

sleepless_saver

You could make an appointment with your local CAB who should be able to help you work out exactly what you are getting at the moment, and the effects on that of taking another pension now. Take along all your paperwork.

Will the private (or occupational- you mention both) pension be reduced if you take it at your age?

xylophone

If you are only 54, you are not receiving a state retirement pension.

Your husband had no occupational pension or any other form of private pension?

You received a one off bereavement payment, bereavement allowance for one year and widowed parent's allowance for a dependent child?

Or you are receiving some form of income support and carer's allowance for your daughter?

Are the benefits you are receiving means tested?

With regard to your deferred pension, have you actually reached Scheme Pension Age? That is to say, have you reached the age where you can draw an unreduced pension?

Or are you saying that you can access your deferred pension on an actuarially reduced basis?

With regards to the state benefits you are receiving, a query on the benefits board may clarify.

jem16

waterlily wrote: »

I am 54. I am assuming it is based on my husbands contributions as the bereavement allowance is only paid for 52 weeks.To be honest I am totally confused about the whole thing. I know I received the widows parents allowance for 1 year and assumed it then went on to the WP.

You are not receiving a Widows' Pension as that stopped in 2002 for new claimants.

If you are entitled to Widowed Parents' Allowance that will continue until your child is 18 and continues in full time education. Presumably this is what you are receiving?

Being in receipt of WPA will not be affected by any other income you receive.

margaretclare

waterlily wrote: »

My husbands pension is state pension. Mine will be an occupational pension from a very long time ago. Because I am a full time carer for our daughter, I am also in receipt of certain benefits. I am aware that these will go as I will have the extra income from my pension. I am just concerned that my husbands state pension will be either reduced or nulled as a result of me taking my occupational pension early. Having worked out my finances, I will be able to survive if I am able to keep my husbands State pension without any other help.

You give your own age, but then you mention your late husband's state pension. Just to be clear, was your husband over 65 when he died and in receipt of the basic State Retirement Pension? If so, when you yourself reach retirement age, whenever it will be by the time you reach it, you can claim his SRP 100% based on his contribution record.

Your own small employment pension - well, I think more needs to be known about that before any answer can be given. Where is it, who is the provider, is it growing at present or is it frozen. If it is invested and growing it might be better to leave it alone to grow further. You need to ask whoever is looking after it at present. Have you got some paperwork about it?

jem16

margaretclare wrote: »

You give your own age, but then you mention your late husband's state pension. Just to be clear, was your husband over 65 when he died and in receipt of the basic State Retirement Pension? If so, when you yourself reach retirement age, whenever it will be by the time you reach it, you can claim his SRP 100% based on his contribution record.

if the husband was born after 6th October 1945 it will only be 50% that can be inherited.