Looking to clog popping time and spouse's income.

oldwiring · 20 July 2018 at 11:19AM

When I retired from work at 60, we knew that my wife, who is 2 months older than I would have to wait to 65 to get a pension on my contributions, we decided that she would pay voluntary contributions, so she had a pension in her own right.

We are now over 80 and I am trying to gain some sense of what her income might be, if I predecease her. Our current State Pensions are made up of
these elements

can anyone give some idea, how she would fare?

LHW99 · 20 July 2018 at 11:32AM

Is this any help?
https://www.gov.uk/state-pension/inheritance

If you both reached state pension age before April 2016, then your pensions would be based on the "old system", rather than the new.
(There is a link on that page if you mean your wife reached pension age after April 2016).

PennyForThem_2 · 20 July 2018 at 11:36AM

https://www.gov.uk/additional-state-pension/inheriting

I get this as my now dead husband was born 1942.

xylophone · 20 July 2018 at 11:49AM

https://www.savvywoman.co.uk/2012/07/what-happens-to-your-state-pension-when-you-die/

I note the contracted out deduction - do you have an occupational pension which will pay a widow's pension?

DigForVictory · 20 July 2018 at 12:15PM

Bless you for thinking about this now, and seeking advice.

My husband is but a f!ckless youth in comparison, and complains if I as much as Suggest paying his stamp so I am not carrying him in his old age. He's adamant he will not make it to retirement & I have to say there are times I am sorely tempted to see he does not make it to his next birthday, but it would distress our children.

Rousing cheers on your forethought, sir, and may your remaining days be calm and happy!

kidmugsy · 20 July 2018 at 12:18PM

DigForVictory wrote: »

I am sorely tempted to see he does not make it to his next birthday, but it would distress our children.

Quite. And just think of the paperwork.

DigForVictory · 20 July 2018 at 2:31PM

One guess as to who usually does All the Paperwork...?
(Hint. Not him, or them.)

But how can we further help oldwiring, whose post I am at risk of hijacking?

kidmugsy · 20 July 2018 at 3:46PM

As I understand it

(i) Her basic will be increased to equal your basic.

(ii) She also gets a proportion of your SERPS. Here's a link.
https://www.gov.uk/additional-state-pension/inheriting

(iii) She gets 50% of your GRB.

oldwiring · 20 July 2018 at 5:23PM

@xylophone. Yes, two that I estimate will yield her ~£170 weekly equivalent.

@kidmugsy I'll have a look at your links.

@ all thanks. wife is 82 and I shall be next month.

Looking to clog popping time and spouse's income.

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free