Expression of wish - what is it?

Cobbler_tone

My EOW is always up to date. Through circumstances mine is 100% with my partner who I co-habit with, as I trust she would execute accordingly. That said, being unmarried it is in the lap of the gods with the Trustees. 

Brie

I think my point still stands whether it's a DB or DC scheme in that the administrators want to ensure that in case of the OP's death any money that needs to be paid out is paid to the correct person, not some ex they might have left 35 years earlier.  Or not to just one child if there are now several - assuming the scheme allows that.  And some schemes, even DBs, do pay out to someone other than a spouse - it will depend on the scheme rules and the trustees decision if an EoW is not clear or applicable.

Marcon

workinggirl32 said:

Later yesterday, I received this comment by email from the provider:

on predeceasing your partner, they would automatically inherit a portion (around 2/3rds) of your pension.
The expression of wish form however is there for you to be able to nominate your spouse or any other dependants that you wish to benefit from any residual pension at the time of your death.

To my mind then, the EoW seems to be something extra, what would be residual?  
I was employed at a local university so this is a final salary pension scheme. Many thanks everyone.

I'm not surprised you're confused.

Could you name the scheme please? There's no reason not to do so - and just knowing you were employed at a local university narrows it down, but not sufficiently for anyone to be certain which scheme you were in (eg some universities had their own pension schemes for non-teaching staff).

Universidad

Silvertabby said:

Eligible children's pensions may be payable, but usually only until age 18, or age 23 if still in full time education.

I am under the impression that LGPS pensions either do, or used to, offer pensions to children beyond age 23 if they have remained dependents long term (i.e. in the case of serious disability), but I'm not too sure about this. @Silvertabby do you happen to have experience of this?

DullGreyGuy

Universidad said:

Silvertabby said:

Eligible children's pensions may be payable, but usually only until age 18, or age 23 if still in full time education.

I am under the impression that LGPS pensions either do, or used to, offer pensions to children beyond age 23 if they have remained dependents long term (i.e. in the case of serious disability), but I'm not too sure about this. Silvertabby do you happen to have experience of this?

Can't say about this scheme specifically but there are some that give life long pensions to children if sever disability means they are unlikely to ever work. 

Marcon

Universidad said:

Silvertabby said:

Eligible children's pensions may be payable, but usually only until age 18, or age 23 if still in full time education.

I am under the impression that LGPS pensions either do, or used to, offer pensions to children beyond age 23 if they have remained dependents long term (i.e. in the case of serious disability), but I'm not too sure about this. @Silvertabby do you happen to have experience of this?

See https://www.lgpsregs.org/timelineregs/LGPS2008Regs/SI20100528/20071166.htm#reg26 and 26.(6) confirms the position.

hyubh

Marcon said:

Universidad said:

Silvertabby said:

Eligible children's pensions may be payable, but usually only until age 18, or age 23 if still in full time education.

I am under the impression that LGPS pensions either do, or used to, offer pensions to children beyond age 23 if they have remained dependents long term (i.e. in the case of serious disability), but I'm not too sure about this. @Silvertabby do you happen to have experience of this?

See https://www.lgpsregs.org/timelineregs/LGPS2008Regs/SI20100528/20071166.htm#reg26 and 26.(6) confirms the position.

I assume you meant to reference the current regs... (https://lgpsregs.org/schemeregs/lgpsregs2013/timeline.php#s1elch)

Silvertabby

Universidad said:

Silvertabby said:

Eligible children's pensions may be payable, but usually only until age 18, or age 23 if still in full time education.

I am under the impression that LGPS pensions either do, or used to, offer pensions to children beyond age 23 if they have remained dependents long term (i.e. in the case of serious disability), but I'm not too sure about this. @Silvertabby do you happen to have experience of this?

Yes, that is the case.  Fortunately, it's very rare that a child (of a LGPS member)  is so disabled that they qualify for a pension for life.  

3 cases (if my memory is correct)  in my 20 years.

workinggirl32

hyubh said:

workinggirl32 said:

Later yesterday, I received this comment by email from the provider:

on predeceasing your partner, they would automatically inherit a portion (around 2/3rds) of your pension.
The expression of wish form however is there for you to be able to nominate your spouse or any other dependants that you wish to benefit from any residual pension at the time of your death.

To my mind then, the EoW seems to be something extra, what would be residual?  
I was employed at a local university so this is a final salary pension scheme. Many thanks everyone.

I still wouldn't rule out Silvertaby's account of the LGPS applying (i.e. a death grant separate from survivor/child/adult dependant pension(s)), however it might be that the rules specify a contingent dependant's pension that can be split between children/adult dependants. E.g. the maximum total dependant pension is 2/3 the original member's, of which 1/2 can only be a widow/er (including civil partner) pension, but the remainder can be divvied up between qualifying child/adult dependant and/or the widow/er.

The precise details here will be part of the scheme rules. Did you get a scheme booklet on joining? Also if you name the scheme, we might be able to look the rules up.

I'll search for booklet and scheme details.  thank you

workinggirl32

hyubh said:

workinggirl32 said:

Later yesterday, I received this comment by email from the provider:

on predeceasing your partner, they would automatically inherit a portion (around 2/3rds) of your pension.
The expression of wish form however is there for you to be able to nominate your spouse or any other dependants that you wish to benefit from any residual pension at the time of your death.

To my mind then, the EoW seems to be something extra, what would be residual?  
I was employed at a local university so this is a final salary pension scheme. Many thanks everyone.

I still wouldn't rule out Silvertaby's account of the LGPS applying (i.e. a death grant separate from survivor/child/adult dependant pension(s)), however it might be that the rules specify a contingent dependant's pension that can be split between children/adult dependants. E.g. the maximum total dependant pension is 2/3 the original member's, of which 1/2 can only be a widow/er (including civil partner) pension, but the remainder can be divvied up between qualifying child/adult dependant and/or the widow/er.

The precise details here will be part of the scheme rules. Did you get a scheme booklet on joining? Also if you name the scheme, we might be able to look the rules up.

Hello again

I have found the following in the University of Birmingham's BPAS Retired members info online.

"If you die in retirement, depending upon your circumstances, the following benefits will be payable:

• If you die within five years of retiring, a cash sum equal to the balance of the pension you would have received up to the end of the five-year period at the rate being paid to you when you die. This sum will be paid to your estate, and
• If you are married (including civil partnerships), a pension to your widow or widower equal to two-thirds the pension you were receiving at the date of your death, or (if greater) which you would have received if you had not exchanged part of it for a cash sum at the date of retirement.

Any pension payable to your widow or widower will be paid during her or his lifetime.

If you have married after you retire and die within six months, your spouse's pension may be reduced. The pension will not, however, be less than your Widow(er)'s Guaranteed Minimum Pension.

It is important that you keep your beneficiaries and dependants up to date. To do this, complete an Expression of Wish form  ... "   there was no more applicable info.

So, in the end, I think it is simply wanting the EoW form completed to confirm who would get that illustrated in the bullet points above and is not anything additional.  Poor communication on their part meant I was just not sure what they were saying.  I wanted to sort this just incase of a variety of different factors so really needed to understand fully.