How will death impact my father's workplace pension?

xylophone

Was your father a deferred member of the Scottish and Newcastle Pension Plan?

https://www.hartlinkonline.co.uk/snpensions/ssp/snpensions/trust_deed_and_rules.pdf

Looking at the above, ( a revision of the rules in 2008),it would seem that because of his date of employment, he would have been in the Final Salary DB Scheme?

gibson1291

Dox wrote: »

If he was employed in the 1970s, and was only 53 when he died in 2013, he could only have had a few years of pensionable service, so please don't get your hopes up too much about how much might be available, if anything.

It may be that the only benefit available is a return of any contributions he made to the fund (which is why you might have thought it was a defined contribution scheme), which may or may not be paid with some sort of interest, depending on the rules of the scheme.

At this stage I am assuming that this is an interest bearing fund - if identical to my mother's pension scheme (which is likely seeing as they held the same role, during the same time period). Miraculously, although they were only working there for a few years, the interest has meant that the scheme is offering £3.5k per annum to my mother from the age of 60 until death. This is in spite of the fact that they were earning around £7k per year.


We're being cautious and planning for worst case scenario at the moment (nil payout), however we can't help but think there may be something available. What we don't have clear to us is how his death impacts.

gibson1291

xylophone wrote: »

Was your father a deferred member of the Scottish and Newcastle Pension Plan?

Looking at the above, ( a revision of the rules in 2008),it would seem that because of his date of employment, he would have been in the Final Salary DB Scheme?

That seems very possible. I wish I had my mother's documents available to me at the moment but I don't, so can't confirm unfortunately.


I will read up on the Final Salary scheme in that pdf but at first glance it doesn't appear straightforward...