Spouse inheritance of SERPS

Sterlingtimes

I will receive my State Pension in 2022. My forecast is for £191.73 per week and this cannot increase other than by indexation.

My wife, who is 12 years younger, will inherit 50% of my Additional State Pension if I should die and she should reach stage pensionable age.

But how is the Additional State Pension calculated for the purpose of inheritance ignoring indexation?

Is my Additional State Pension the value of new forecast less the value of the current value of the old state pension: £191.73 - £125.95 = £65.78 such that my wife would receive an additional £32.89 per week?

Or is my Additional State Pension, for this purpose calculated as the value of the new forecast less the current value of the new state pension: £191.73 - £164.35 = £27.38 such that my wife would receive an additional £13.95 per week?

Or is there a different answer?

molerat

The inheritance when both reach SRA under the new scheme is based on your protected payment so your last thought is the correct answer

Sterlingtimes

molerat wrote: »

The inheritance when both reach SRA under the new scheme is based on your protected payment so your last thought is the correct answer

Thank you for your quick response. I rather thought that that would be the case but my Googling did not lead to a satisfactory answer.

molerat

This is all assuming you were married before 6 April 2016, if after they inherit nothing unless deferring).

https://www.gov.uk/new-state-pension/inheriting-or-increasing-state-pension-from-a-spouse-or-civil-partner