#shorts In this short video, we're talking about what happens to your pension if you die before retirement. If you’re invested in a personal retirement savings account, a pan-European personal pension product or a personal retirement bond then the full value of those pension products will be transferred to your estate and distributed to your beneficiaries in accordance with your will. This treatment can also apply to company pensions, but only where you’ve left the company and have a preserved benefit within the old company’s scheme. If you’re an active member of a company scheme and you die whilst employed by that company, then the rules are different. The maximum lump sum that can be received by your estate from a company scheme or schemes is four times your final salary at the date of death. Your employee contributions can also be refunded, with or without their capital appreciation, in addition to the lump sum received. Any remaining balance within the scheme can b
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)