Death in Service beneficiary

Kynthia

MEM62 wrote: »

Nope. It is an insurance product, not a pension product.

Should the worst happen the insurers deposit the settlement in an account that we have established specifically for that purpose. In those circumstances myself and the other trustee decide to whom the money is paid.

As it has been some years since we set this up I checked with our brokers and they have confirmed that, as an insurance product, it comes under FCA regulation. Nothing to do with the pensions regulator.

It's not an insurance product everywhere. In the public sector the death in service is paid by the pension scheme. This would also fit with the OP's comments regarding the child automatically getting a pension as public sector DB pension schemes pay a dependents pension to dependant aged children regardless of whether a partner is getting a survivers pension or not.

Sunflower2102

Thanks for this. The pension bit I am clear on it’s the DIS I’m not. I will wait to hear from the trustees. That’s all I can do right now.

Sunflower2102

Does anyone know if the trustees can make a decision without notifying the beneficiaries?

Malthusian

Sunflower2102 wrote: »

Does anyone know if the trustees can make a decision without notifying the beneficiaries?

How would they manage to pay the beneficiaries without the beneficiaries finding out?

(trying to contribute something helpful by guessing the meaning behind the question: ) If by that you mean could they have paid the lot to the child without telling you, then yes. Although it would seem very discourteous not to let you know that a decision has been made so you can move on.

Have you been in direct contact with the trustees or are you getting all the information second-hand?

Marcon

Sunflower2102 wrote: »

Does anyone know if the trustees can make a decision without notifying the beneficiaries?

The beneficiaries are those to whom the trustees decide to pay some or all of the benefit(s).

If you mean do they have to notify other parties, the answer is a resounding 'no', otherwise where would they draw the line?

You can certainly ask them to confirm if they have yet taken a decision and if not, if they could let you know when that decision might be made. You can also ask them to give reasons for their decision (once you know, or think, it has been made), although don't expect chapter and verse, especially if you were not a chosen beneficiary.

CRANKY40

Maybe I can provide a little bit of possibly helpful information....

I was a civil servant and so was my late dh. The DIS benefit is paid to whoever you nominate - it doesn't have to be a relative. If the friend was a civil servant then his daughter will automatically receive a pension. My son has been paid a pension amount every month since I was widowed and this continues until he is no longer in education. I receive a widow's pension through the same scheme and this will continue until I co-habit with or marry a new partner so the friend's wife would have the same pension rights. As long as she isn't co-habiting she will receive a pension as well as the child. The mother should also be able to claim bereavement support payments in respect of the child which are nothing to do with the pension. This is a one off payment of £3500 followed by £350 per month for 18 months.

In view of this I can't see any reason why the friend should not have left some of his DIS to the OP. He'd have known about the other pension/allowances so it would be fair to assume that he thought that the child would be adequately provided for?

chesky

With regard to the separation issue - I was legally separated from my husband for over thirty years. He had a girlfriend for about ten years, who died two years before he did. When he died, my son and daughter were his executors. They arrived one evening with some papers for me to sign. The solicitor assisting them had told them that their father hadn't changed his expression of wish and his g/f was still on the pension paperwork. The solicitor told them that I stood a pretty good chance of being granted the pension as we were stilllegally married. I signed the papers in February and received the first pension payment in May - much to my surprise.

Sunflower2102

I’m a chosen beneficiary.

Sunflower2102

Thanks for your help. I’ve asked for details from the trustees so I’m aware of the process.

Marcon

Sunflower2102 wrote: »

I’m a chosen beneficiary.

How do you know you're a chosen beneficiary if the trustees haven't confirmed they will paying you some (or indeed all) of the DIS benefit? 'Chosen' doesn't simply mean 'nominated by the member'. It means that the trustees have chosen to make a payment to you.