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If both my wife and I die (no kids), who gets my pension?
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Do you know, with DC schemes, can you make a list? ie have more than one!Albermarle said:
With a DB scheme, the scheme rules usually have little discretion about who they pay out to on your death.Bostonerimus1 said:OP, if you don't know the answer then we certainly don't. You should make sure you have designated your beneficiaries and understand any death benefit of your DB plan. When you die your assets will be distributed according to your designated beneficiaries and your will and the probate process.
Spouse first, then dependent children. If neither of those exist there is no payout.
With DC schemes you can nominate beneficiaries.
Like, if I die , it goes to my wife, but hey, if we die together in a car crash, then it should go to...... whoever?0
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