Wife has died, how do I find out about 'Protected Payment' from State Pension?

Banksy_2

Good Afternoon

Sadly, my wife passed away at the age of 43 just three weeks ago and I'm currently going through the financial minefield of what belongs to her and can be inherited by next of kin to get the best for her remaining family. I'm 51 yo.

I've read plenty but seem to be getting stuck in the mud of 'not entitled to anything until I get to state pension age', but did read about a Protected Payment could potentially be inherited / paid out if it applies, but how do I find out if there is one?

Thanks, JB

Keep_pedalling

Sorry you find yourself in this position. What is the position with your own state pension forecast? 

Did your wife have a will in place?

elsien

You would need to contact the pensions service to ask the question.
Contact the Pension Service: Get information about your State Pension - GOV.UK

Have you looked into bereavement support payments at all?

Banksy_2

Yes, it was a very simple will - one of the what's mine will go to you kind of will. 

I'm 51 so guessing mine is just a case of not receiving anything until 67, but just wasn't sure if there is anything that can be pulled forward to help my family (we have 2 x sons primary school age)..

Banksy_2

elsien said:

You would need to contact the pensions service to ask the question.
Contact the Pension Service: Get information about your State Pension - GOV.UK

Have you looked into bereavement support payments at all?

Yes, BSP applied for thanks.

I did try the PS but they just said I wouldn't receive anything from my wife's pension until my time comes at 67 (if I'm lucky enough to reach that age!)

Flugelhorn

I am sorry to hear of your loss.I suspect that payments from the state are likely to be just the BSP, did your wife work at all? just wondering if there was some occupational pension that may pay out to dependants ?

molerat

I very much doubt there would be any protected payment as she would have needed an entitlement  in excess of £155.65 at April 2016, highly unlikely with a max of around 20 years contributions. It would only be payable with your sp anyway.

Banksy_2

Flugelhorn said:

I am sorry to hear of your loss.I suspect that payments from the state are likely to be just the BSP, did your wife work at all? just wondering if there was some occupational pension that may pay out to dependants ?

Thank you.

She did work yes, and am in the process of contacting the various employers - that's a separate minefield it seems!

This is the bit that's throwing me when I research all of this:

Inheritance: New state pension
A person may be able to inherit an extra payment on top of their new state pension if they are widowed. However, an individual cannot inherit anything should they remarry or form a new civil partnership before they reach state pension age.

If a marriage or civil partnership began before April 6, 2016 and one of the following circumstances applies, then a person may inherit part of their deceased partner’s Additional State Pension.

These are:

• The deceased partner reached state pension age before April 6, 2016
• They died before April 6, 2016 but would have reached state pension age on or after that date

A person will inherit half of their partner’s protected payment if their marriage or civil partnership with them began before April 6, 2016, and:

• Their state pension age is on or after April 16, 2016
• They died on or after April 6, 2016

This payment will be made with the state pension.

A person may inherit part of all of their partner’s extra state pension or lump sum if:

• They died while they were deferring their state pension or had started claiming it after deferring
• They reached state pension age before April 6, 2016
• They were married or in the civil partnership when they died

...it's how to find out if any 'extra state pension' or 'partners protected payment' applies I'm not sure of.

elsien

The pension service should still have a rough idea.
It may be worth going back to them to say "yes I know I don't get anything till I'm 67 and the rules might have changed by then anyway, but as things stand will I get anything and what would it be in today's terms?"

RAS

Hopefully your wife's pensions might pay out dependant's pensions until the children finish secondary education? Any death in service benefits?

Albermarle

She did work yes, and am in the process of contacting the various employers - that's a separate minefield it seems!

Yes it can be, especially at a difficult time. Hopefully the following will help ( I will assume that your knowledge of non state pensions is limited)

There are two very distinct type of workplace pensions, and you have to be very clear which type the different pensions are, or confusion will reign.

Defined Benefit ( DB) - often referred to as Final salary schemes. These pay out a guaranteed income related to how long you worked with the employer and what your salary was. They are mainly only in the Public sector nowadays but there were more active private sector schemes in the past 

Defined Contribution ( DC) - Here you just build up a pot of money that is usually held in investments in the pension.

In the past many employers did not offer a pension at all ( mainly smaller employers) but in more recent times they have had to, Normally in the private sector it would be a DC type. With a DC type, sometimes when you leave an employer you effectively just take the pension with you, so contacting the employer may not be necessary, or very fruitful. Some DC schemes and most DB schemes will still  be employer related.

All pension providers should send an annual statement of some kind, so hopefully you can find these as that will help.