Pension Fund dependants nomination
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smokeyjoe1
Posts: 2 Newbie
I have a personal pension pot and I am approaching 75. Can my dependants still receive my "pot" once I have passed my 75th birthday ?
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Yes, but it will be taxed at their marginal rate if you are over 75 when you die. There is no option for them to take a tax free lump sum.smokeyjoe1 said:I have a personal pension pot and I am approaching 75. Can my dependants still receive my "pot" once I have passed my 75th birthday ?
If you look on your provider's website that should have all the info you need.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1 -
With most pensions, yes. However, some legacy pensions may have different death benefits and require a transfer to a modern plan.smokeyjoe1 said:I have a personal pension pot and I am approaching 75. Can my dependants still receive my "pot" once I have passed my 75th birthday ?
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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