Is This True About My Husbands Pension?

[Barsel]

My husband and I separated nearly 20years ago, but he said he didn't want a divorce because according to him, if he dies before me and we are still married, that I will get a reduced amount of his works pension even though we don't live together.
He feels that as he has paid into this pension for all these years, that he would rather it went to me than die with him if we were divorced.
Is this true?

[bhg481]

It depends on the conditions of his pension. I have a public service pension, my wife has a pension from a private company; in both cases the surviving partner will receive half the pension UNLESS they remarry or, even, co-habit with someone, in which case no further payments will be made.

[Canary42]

It all depends on the terms of the pension, could be true.

[david small]

If my wife dies then I get half her pension. But, she insists that I have to die first.

[Barsel]

If it is true, I would receive it then withdraw it and divide it between our 3 daughters as they need it more than I do.
Or perhaps set up a monthly transfer into their names.
Would I have to declare it to the DWP even though I would not be keeping it?
I did ask him if it could go straight to them instead of me, but he said no.

[barry1010]

Barsel, if you are on benefits you absolutely would have to declare it to DWP regardless of what you do with it. Even benefits that are not means-tested could be affected, so you should tell them.

[Barsel]

Thanks barry. Knowing him, he will probably outlive me anyway.

[bhg481]

You'll also have to declare it for income tax.

[woofgang]

I don't think you would be able to just withdraw it without paying hefty tax on it, not sure of the rules as its been a while. I do know of divorces where the pension pot has been part of the settlement and the agreed share passed into the spouses name. In fact its advised to do that rather than wait as if divorced party married and divorced again and more of the pot got sliced off, ther would be smaller pickings for first divorced partner. Again I think in many not all pensions, the beneficiary after death (if there is one, not all do) can be named and need not be married spouse. You or your husband need to check the details.

[barry1010]

Woofgang, my wife will get a monthly pension (same as I do) should I die before her. No lump sum, she will only be taxed if her total income puts her above the personal allowance (currently £12,570)

[woofgang]

It really does depend on the terms of the pension.

[woofgang]

Og the other thing it depends on is whether the pension is being drawn or not.

[Barsel]

Woofy what do you mean when you say it depends if the pension is being drawn or not?

[barry1010]

Barsel, he means if your husband was in receipt of his pension at his time of death.

[Barsel]

He's been drawing his pension for 15yrs. He is 80yrs old in November.

[ubasses]

Although your husband would have to look at the terms of his pension scheme, the usual terms as he is already retired is that you would be paid a percentage of his pension with lump sums only being paid pre retirement. Other than yourself a child would have to be under a certain age.
Unfortunately, this would mean that as far as any benefits are concerned the DWP would have to be advised, and of course the pension fund would advice HMRC for tax purposes.

[THECORBYLOON]

What benefit(s) do you receive?

[Skyline D]

My separation agreement sets out the specific sum my cheating ex is entitled to out of my pension pot (every penny grudged). She doesn't get it until one of us actually divorces the other though. When a formal divorce goes through the element that is hers will be transferred out of my pot and into her name. Until then it sits where it is. If I die before divorcing then she'd get it in cash from the Estate. My understanding was this was standard arrangement under Scots Law which may be different.

[Peter Pedant]

it certainly could be ( true)
as no 1 says bhg - it depends on his conditions of his pension