What if my husband dies before taking his pension? (divorced, retired, married)
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Every pension plan is different. In my case, it was only a few dollars less a month to sign up for life time benefits for my husband if I died first. Basically, my entire pension would go to me, or to my husband, as long as one of us were alive.
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Originally Posted by Dwatted Wabbit
Yup yup yup.
OP, contact the personnel office... Yes, he will collect a reduced amount, but to us the insurance of having the income stream continue--reduced, but still there--was worth it.
Don't dawdle, do it this week.
A woman of my acquaintance was on her 2nd marriage as was he, and while updating his paperwork took the reduced pension, paid the fee, or did whatever was required for his pension to cover his wife should he predecease.
He died before he even retired. If not for his having done that, she would have been an impoverished widow. However, 25 years later she is doing ok.
My dh currently qualifies to start drawing his pension, but continues to work for various reasons.
What if he passes away while still currently employed? Would I qualify for any portion of his pension?
If he were retired and drawing a pension I would receive a partial benefit if he passed before me. However, it just occurred to me---what if he passes before me while still an employee? If he never drew his pension, would I be entitled to anything?
That is a question for HR regarding his pension, not for an anonymous internet forum.
Pensions are becoming a thing of the past, so in the not too distant future will be considered a quaint anachronism.
So one wonders what will happen with a working spouses 401k in the event of death or even divorce.
In death, presumably those retirement assets will be part of the marital distribution to the spouse, but I am not certain of that.
What is even more murky is what happens if a working spouse gets a divorce and then passes away. You would think that if the other spouse was a stay at home/non-working (i.e. talking care of the kids/home) they would be entitled to some of it.
Then again maybe that is negotiated in the divorce proceedings.
Pensions are becoming a thing of the past, so in the not too distant future will be considered a quaint anachronism.
So one wonders what will happen with a working spouses 401k in the event of death or even divorce.
In death, presumably those retirement assets will be part of the marital distribution to the spouse, but I am not certain of that.
What is even more murky is what happens if a working spouse gets a divorce and then passes away. You would think that if the other spouse was a stay at home/non-working (i.e. talking care of the kids/home) they would be entitled to some of it.
Then again maybe that is negotiated in the divorce proceedings.
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401K is not a pension. The beneficiary gets 100% of the 401K.
As buiscuitmom said it varies with the pension so check with them.
Wouldn't this man with Pension plan have listed "Beneficiary"?? I don't understand because many younger ( pre-retirement age with pension plans normally designate beneficiaries???
My question >..Does her husband have a"Will"? He should have designated his assets to whomever he wished to have access to his Estate??
I personally understand when folks don't have a will when passing away.. It's complicated and costly endeavour to go through courts/ Lawyer Fee's and years of litigations to deal with!! It's probably insightful the OP asks such a question. Anecdotal.. I'm still trying to settle my eldest Estate, who passed @ 41 w/o will into year 3.3 years later!! He left 2 children ( only beneficiaries) that I have been trying to get settled for their future inheritance .. invested under a "Trust"..NOT me.
OP should do some research to find out NOW so can prepare herself for what could happen .
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If he never drew his pension, would I be entitled to anything?
