Pensions Transfer

aayush

Hi

Hope this question has not been asked before by someone else

Are Pensions transferable to next of kin in case the person who pension it is passes away say wife pass away will it was given to the husband and if no husband then to the son

Private and company Pensions

Aegis

It depends on the pension type. If it's entirely an income, then sometimes there is a survivor's pension for a spouse. If it's an investment-based pension then there's usually more flexibility to pass it not just to a spouse but to anyone else as well.

aayush

ok one further question I have 3 policies which are frozen at present
am aware I can take 25% at 55 which 75% from the three will be allowed?

2 used to pay my self and one is x employer

Linton

aayush wrote: »

ok one further question I have 3 policies which are frozen at present
am aware I can take 25% at 55 which 75% from the three will be allowed?

2 used to pay my self and one is x employer

It isnt clear to me what you mean. However this may help.....

Each pension is treated separately - ie 25% of each pension pot is tax free. You cant get one pensions 25% from another pension.

aayush

as I have 3 pensions will I only get 25% from one of three poices

xylophone

http://www.scottishwidows.co.uk/extranet/literature/doc/FP0461

You say that you have three "policies" and mention that one of these was in connection with an ex employer.

What kind of policy is this? Or do you in fact mean that you have a deferred defined benefit pension?

aayush

xylophone wrote: »

http://www.scottishwidows.co.uk/extranet/literature/doc/FP0461

You say that you have three "policies" and mention that one of these was in connection with an ex employer.

What kind of policy is this? Or do you in fact mean that you have a deferred defined benefit pension?

all 3 polices are frozen

pip895

You can get 25% tax free from each of the three pensions

aayush

How can I estimate figure of what i can get from each pension polices

happyandcontented

aayush wrote: »

How can I estimate figure of what i can get from each pension polices

If you know what is in each pot work out 25% of that number. So, say pot 1 has 20k in it you can take 5k tax free.