Pension Question

[-SharonA-]

If both spouses die whilst getting their private pension, who then gets the money.
Should this be covered in their will??
Say hubby dies first, money goes to wife then she dies and she had named hubby to get money but he is Dead. This is what I want to know, who gets money.

[Maydup]

The will covers it, and the form that the private pension issues every so often to ask who you bequeath the pension to. So if hubby dies, wife decides who she bequeaths it to moving forward.

[Prudie]

This is complicated and I don't know but I wondered if after both die the pension stops - otherwise we'd all be getting our ancestors pensions!

[woofgang]

it depends on the pension....some allow them to go to a named beneficiary if the pensioner dies but often they can't be inherited beyond that one named person. I find your question a bit confusing so will try and answer
Person A pays into a private pension. Person B is the named beneficiary of the pension if person A dies. Person A dies so person B receives the pension (possibly at a reduced rate) When person B dies, the pension usually dies with them.
BUT same person B also has a private pension....they had named person A as the beneficiary but person A died before person B died. There might have been the facility for person B to name another beneficiary for their pension, but not person A's, but I suspect that if this wasn't done then the pension dies with person B.

BUT it depends....different private pensions have different rules so whoever wants to know needs to check with the pension provider(s)

[-SharonA-]

Thanks, it's what I thought.

[New Judge]

One thing is certain: if the two spouses have nominated each other to receive the (usually) half pension on the demise of the other, both pensions die with the demise of them both.

There may be some sorting out to do if they die a little apart, but there will be no further payments.