Thames Water Pension Scheme

coxy787878

Hi all, appreciate anyone's feedback on this. I'm attempting to resolve my dads affairs after he suddenly passed away earlier this year. Thames Water/Capita have been nothing short of a joke, losing certificates, not calling back, not following up on requests etc.

Cut a long story short here. Dad retired at 65, took a lump sum and pension. He passed away within 2 years. My mum is now receiving 50% of his monthly pension, which equates to something like 3k a year. I’ve just spoken to someone at Capita who advised that the Trustees have taken the decision to award a lump sum of 9k ( i.e. 3k x 3 years ) as there is the “5 year guarantee” ?! Bewildered.. I expected it be more.. simply trying to give mum some assurances around her short term financial future.

Many thanks.

greenglide

You would expect some type of "death grant" if the guarantee period had not been reached. How much would be paid would be determined by the scheme rules. An equivalent of the annual pension times three for a five year guarantee seems normal. It could be that the take into account the survivors pension?

Half pension for the widow would be normal.

You need to read the scheme booklet.

ischofie1

If it had a 5 year guarantee and they are paying out for 3 years this suggests you father drew his pension for 2 years before his death.
The 3 x £3K payout + your mothers 50% windows payment over this period means they have met their obligation, i.e. Paid the full amount for min 5 years from inception.
Your mother will continue to receive the 50% (£3K) pension for life.