Pension provider

[canthinkofon]

Hi Abbers,
My friend was paying into a retirement pension fund.
Unfortunately he passed away at an early age, His wife who is now retired gets a pension for life off his company,
What she would like to know is can she claim a lump sum instead of the monthly payment.
the pension is around �500 per month after tax.
Kind regards,
canthinkofon

[wired]

She should be able to, she has to contact the pension provider who usually have a sliding scale of what will be due if taken as a lump sum.

[canthinkofon]

Many thanks Wired.
Regards

[factor-fiction]

I'm not so sure, wired. Doesn't a decision on a lump sum commutation have to be taken at the time the pension is first taken. I may be wrong but I'm not aware you get a second chance, even in the event of death. Anyway, the trustees are the people to ask about the options

[canthinkofon]

Many thanks Factor 30,The info has been passed on,
Regards,
canthinkofon

[abay]

Here you can get more details about the pension plans and the monlthy payment they are provided.
http://insurance-plan-guide.blogspot.com