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In the UK what happens to the money in my pension fund after I and my wife die? |
In the UK what happens to the money in my pension fund after I and my wife die? depends, mate if u dnt hav any family government! they keep it 4 themselves it goes to whoever you wanted to give it to... like your kids You planning on dying before you get it then - It goes to the pensions company to your eldest child if you have one, then if not then im not sure sorry!! well any extra money left will go to waste unless you write a will to give it to someone, thats just it if you dont legalise it somewhere the goverment take it. so get it signed on your will who you want it to go to. talk to a solicitor that deals with wills and probates The monies will go to your next of Kin, or who ever you state in your will. It is given to another needy pensioner. it will eathier go to your son or who ever you are wiling to give to That is why you write a WILL! If it has a surrender clause it goes to your N O K. Sorry. Next of kin. You will see from the variety of answers that there really is no point asking anyone other than your pension company. You may have used it all up anyway. I thought the Pension fund died with? but maybe I'm wrong? Your pension fund is their to provide you and maybe your wife with a pension, when you die the pension contract is over, the money belongs to the pension fund. It pays for MP's salary increase!! Insurance Company keeps it! |
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