Skip to main content

Is it possible to inherit a deceased spouse's state pension?


Although state pension payments technically come to an end when someone dies, there are some circumstances under which you can receive an extra state pension payment after your spouse or civil partner’s death. Check your state pension: Call the Future Pension Centre on 0800 731 0175. Contact the Pension Service: Check out other videos in my pensions playlist: Thanks for checking out my You Tube channel - I’m Justin King and my aim is to help people to live successful lives. That often involves understanding your money. If you enjoy this video, please press the like button to help more people like you find my channel. If you're planning your retirement and want to make the best use of your wealth to provide for your family throughout retirement and beyond, or work out how best to pay for a loved one’s care, I may be able to help you. As a Chartered Financial Planner at boutique retirement planning practice, MFP Wealth Management, I help successful people retire with complete confidence. To explore whether I could help you, get in touch at Get my weekly newsletter: Check out my podcast: Connect with me: On Twitter: On LinkedIn: This video is for information and entertainment only. Nothing on this channel constitutes financial advice. Please do not make any decisions based on the contents of my videos; seek professional independent financial advice first!...(read more)



LEARN MORE ABOUT: Retirement Pension Plans
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Losing a spouse is a particularly difficult experience, one that we all hope will never happen. But in the event that it does, it's important to know what happens to the assets and benefits that your spouse was entitled to during his or her life. One question that may come to mind is whether you can inherit your spouse's state pension if they die. The answer is yes, you can inherit your spouse's state pension if they die, but the amount you receive will depend on various factors and, in some cases, may not be available. Firstly, if your spouse died before reaching state pension age, unfortunately, you won't be able to receive any benefits. State pension payments are made to the individual who has reached the necessary age of eligibility, not to their surviving partner. If your spouse was receiving state pension payments before they passed away, the government's Bereavement Service will contact you to discuss the amount that you may be entitled to. There are different levels of bereavement benefits available, ranging from a lump sum payment to ongoing payments at a flat rate or a percentage of your spouse's pension amount. The amount you receive in bereavement benefits will depend on a variety of factors, including your age, whether you have dependent children, and your income. For example, if you are over 45 at the time of your spouse's death, you may be eligible for a one-off payment of up to £2,500. If you have dependent children, you may be eligible for ongoing payments at a weekly rate, and the amount you receive will depend on the age of your children and whether you are working or receive other benefits. It's important to note that the rules regarding bereavement benefits have changed over the years, and you may need to contact the Bereavement Service to find out exactly what you may be entitled to. Another factor that could affect whether you can inherit your spouse's state pension is whether your spouse had deferred their pension payments. If your spouse had deferred their pension payments, the payment amount may change when they pass away. If they had deferred their pension payments for more than ten years, then only basic state pension benefits may be payable to you as their surviving spouse. In summary, it is possible to inherit some of your spouse's state pension if they pass away, but the amount you receive will depend on a variety of factors. It's important to understand the rules and regulations surrounding bereavement benefits and to contact the Bereavement Service to find out exactly what you may be entitled to. https://inflationprotection.org/is-it-possible-to-inherit-a-deceased-spouses-state-pension/?feed_id=104896&_unique_id=647eeb8881eb3 #Inflation #Retirement #GoldIRA #Wealth #Investing #BasicStatePensionUK #gethusbandsstatepension #inheritspousesstatepension #inheritstatepension #statepensiondeathbenefits #UKStatePension #ukstatepensionexplained #whathappenstomystatepensionwhenmyhusbanddies #whathappenstomystatepensionwhenmywifedies #RetirementPension #BasicStatePensionUK #gethusbandsstatepension #inheritspousesstatepension #inheritstatepension #statepensiondeathbenefits #UKStatePension #ukstatepensionexplained #whathappenstomystatepensionwhenmyhusbanddies #whathappenstomystatepensionwhenmywifedies

Comments

Popular posts from this blog

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'