What happens to your pension when you die - Pensions 101

[@Thomas-ff7wn]

Exploring what happens to your pension when you die is a crucial aspect of financial planning. The complexities involved, such as understanding pension distribution rules, potential tax implications, and ensuring the well-being of your beneficiaries, can be overwhelming. As you delve into this topic, consider the value of seeking advice from a pension advisor to navigate these intricacies effectively.

[@mariadrukker2557]

Absolutely. Addressing the posthumous aspects of a pension involves more than one might anticipate. From selecting beneficiaries to understanding the implications of different pension plans, having an advisor can streamline the process for your loved ones. They can provide clarity on distribution options and help create a plan that aligns with your wishes and the financial well-being of your heirs.

[@MONROEJACQ]

I couldn't agree more. My recent experience navigating the intricacies of my spouse's pension after their passing highlighted the importance of professional guidance. An advisor helped me understand the various options available, ensuring a smooth transition while maximizing the financial benefits for our family.

[@V.stones]

Your experience resonates with my concerns. Can you share more about how your advisor assisted you during this challenging time, and do you have any recommendations?

[@V.stones]

​@@MONROEJACQ??

[@MONROEJACQ]

Nathan Travis Cook

[@pmarsh6790]

"The roles on inheriting a pension are complex" Yeh, and we know why!😢

[@michaelashall4523]

Your state pension should passed in full to your spouse.

[@pmarsh6790]

Yep. Government is saving £zillions in SP, not only because it keeps raising the SPA, but from those who've paid in all their working lives, but pass away before reaching SPA. 5, yes FIVE, in my immediate family alone!😢

[@ellengomm6972]

Agreed, spouse, next of kin, or whoever else you designate it to in your will.

[@mrbigarms]

My lovely wife passed away at 57 and this is all just so complex, she did all money stuff because I was so bad at it. I'm going to need a lot of help!

[@DeeDee-el8bd]

so sorry about this..may she rest in peace🙏❤️...try your citizen advice bureau for some advices...stay strong and may God bless you🙏❤️

[@andypandy9931]

Thank you, I understand what you say but do you now why there is a distinction between before and after the age of 75?

[@KW-ro5ow]

My dad had a pension with Coors and they told me because he was 79 when he passed away I was not entitled to a penny.

[@stellafreeman7964]

This is very interesting advice to me, thank you 😊.. I'm trying to trace my late husband private pensions he's passed away suddenly on Friday 12th April 2024

[@PensionbeeTV]

Hi Stella, Thank you for contacting us. Firstly on behalf of everyone here at PensionBee, my condolences on the loss of your husband. If you would like us to search our customer database, please get in touch with us at [e-mail] I hope this has been helpful, If you have any further questions in the meanwhile, please do let us know. Kind regards Team PensionBee

[@CecilColhoun]

You don't need it anymore

[@michaelpearson1272]

​@@johnmarkrobinson2924 then give it to charity not the greedy penny pinching gov. Now they want to look inside your bank account in case you are committing a bigger fraud than they are

[@bobe4417]

Can i get my pension before retirement?

[@PensionbeeTV]

Hi there, Thanks for getting in touch and your interest in PensionBee! As soon as you reach the age of 55 (set to increase to 57 in 2028), you can start withdrawing flexibly with PensionBee and you can take up to 25% tax-free. Please know that in line with government guidance, we don’t allow customers to access their pension before the age of 55 (57 by 2028), except in limited circumstances, such as ill-health. This is because early access may be deemed as an unauthorised payment by HMRC, meaning that both PensionBee and our customer could be subject to heavy fines, which may leave you with little left of your well-earned retirement savings. If you're under age 55 and considering early pension release, also known as pension unlocking, you may wish to reach out to a free government service for guidance: Money Helper - www.moneyhelper.org.uk/en Pension Wise for those aged 50+ - www.moneyhelper.org.uk/en/pensions-and-retirement/pension-wise We hope this helps and would be happy to assist if you have any more questions! Kind regards, Team PensionBee

[@jacksonjoseph8563]

Death is inevitable.

[@thomaspenman4101]

The goverment reclaim it

[@aleccap5946]

Give a chance to spend some first eh

[@jamesgreen807]

What's happening to it while your alive????!!

[@angloaust1575]

No further use for it The eternal state is money free Upstairs or downstairs Free board and lodging!

[@annewalden3795]

But you have no choice about who you share it with .It could be Donald Trump and his old mucker Vladamir Putin or it could be HM Queen Elizabeth and Pope John Paul.

[@angloaust1575]

That's true we have no say in the matter see where we end up and who with No more marriages though!

[@annewalden3795]

@@angloaust1575 Hell and heaven allow co habitation I conclude.

[@sohrabamiri7917]

Hi gorgeous When someone has been die he do not need anything so do not be worry about it

[@alisharif1997]

🕌🕌