State/private pensions

Sarah69

Hi, 

When both of my parents have died what happens to their pensions do they just stop?  Thanks

molerat

State pensions generally yes, unless they were deferring them then there may be some inheritance depending on their circumstances - it's complicated.

Private pensions all depends on the pension - again it's complicated.

So unfortunately what you asked does not have a simple answer.

MallyGirl

Sarah69 said:

Hi, 

When both of my parents have died what happens to their pensions do they just stop?  Thanks

State pension stops. Private pensions will depend on what they actually are - DC or DB?

Marcon

molerat said:

State pensions generally yes, unless they were deferring them then there may be some inheritance depending on their circumstances - it's complicated.

See https://www.gov.uk/state-pension/inheritance-spouse-civil-partner or https://www.gov.uk/new-state-pension/inheriting-or-increasing-state-pension-from-a-spouse-or-civil-partner

dunstonh

private pension is a generic term that means different things to different people.  e.g. pension privately arranged (not state or workplace)  or anything by state.
There are very many different types of pension that could fall under that classification.  Some will have death benefits.  Some will not.    

Some pensions are converted to annuities in retirement.  So, the pension no longer exists as the annuity is now the product.   They will have the death benefits selected by the annuitant when they took the annuity out.

So, you need to know what type of pension/scheme/annuity it is and the terms of those.  Hence we cannot answer your question without knowing the pension type and terms.

Andy_L

If your username is a reference to your year of birth then it is almost certainly the case that their pensions will stop when the last of them die