New Pension, I'm nominated by OH but they are still married?

N

niceoneted

Registered User
Messages
2,084
Hi folks, my OH has had to take out a pension with their company in the last month. It was mandatory for all staff. They say they had to nominate who receives it in the event they die. I am nominated for 50% and the rest is split between kids - some we have together. I'm telling OH I'm not sure this can be done as they are still married - separated almost 10 yrs but no legal separation. awaiting divorce but caught up with negative equity properties. Anyone know what the position would be? TIA
I wasn't sure if I needed to post this in legal or pensions?
 
It depends on the terms of the scheme. The usual thing is that the trustees have the power to decide who receives the benefits if the original beneficiary dies, they look at who has been nominated but they are not bound by it.

This may seem strange, that the trustees have the power to decide how a persons pension assets are distributed, but the reasoning is that circumstances may have changed between the pension being set up and the beneficiary dying, it may be a span of decades. The beneficiary may not have updated their wishes.

I do not know if there is a way to indicate to trustees the beneficiaries wishes other than the nomination process.
 
Has you OH and ex done a separation agreement as regards succession. They should if they haven't and they should opt out of the mandatory spousal inheritence. That's possible when you separate.

I suggest a query to the pension company as regards the nomination process. I was listening this week to an article about someone in Trinity who had issues about marriage and pension rights because the rules in the past meant if you weren't married by the time you were 60 your spouse would not get pension benefits.
 
Thanks folks. I'll get them to check with the pension co the questions you advise. Bronte no there is no legal separation or the like in place at all even after all this time even though ex partner is also in a very long established new relationship. this is my big worry. I don's so much care for myself but do for our kids as they are so young. the children of the original marriage are almost through college.
 
I think the options nomination your OH signed may be for a death in service insurance policy rather than the pension.
For the pension, in such a complicated case the trustees may well just pay to the estate and let the executors sort it out.
DIS , if that is that it was, is more tricky. Among other things, Trustees will consider who your OH was supporting while alive.
 
You must log in or register to reply here.
Back
Top