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What proportion of my pension will my husband get when I die?

Discussion in 'Retirement' started by flowerswalks, Jan 4, 2019.

  1. flowerswalks

    flowerswalks New commenter

    I am 65 and I have been retired for just over 4 years. I receive a TP of £16000 from a final salary scheme. If I die before my husband how much of this will he receive? The information on the Teachers' Pension site is too complicated for me. I am hoping someone smarter than me can give me a rough idea. Thanks!
  2. border_walker

    border_walker Lead commenter

  3. lindenlea

    lindenlea Star commenter

    That's what I think too.
  4. Sundaytrekker

    Sundaytrekker Star commenter

    Half: except there is a rule somewhere about men only inheriting this from their teacher wives for service after 1988. Women were entitled to half of men’s teacher pensions before this. There is a short term three months of full pension payable and more benefits if the person dies having received less than five years of pension.

    But for most people: half.
  5. diddydave

    diddydave Lead commenter

    All of your service was in the final salary arrangement so you do not have to worry about the 37.5% that career average pensions now provide.

    As a woman, only service from 1988 counts towards your service for a spousal pension unless you paid extra at the time for prior service to be included: ( https://www.teacherspensions.co.uk/members/once-retired/death-benefits.aspx )

    So as you retired in 2014 you have 26 years service, this is counted at half the rate so the calculation would be 26 / 160 x final salary. (Or in another way for every £10,000 of your final salary they will get £1,625)

    https://www.teacherspensions.co.uk/...ets/Family and Dependents/Death benefits.ashx
  6. Piranha

    Piranha Star commenter

    Did women pay less for their pensions before 1988? Otherwise it strikes me as very unfair that spouses'/civil partner's pensions are lower than for men.
  7. diddydave

    diddydave Lead commenter

    No, the rates were the same and I have no idea how it is justified and has failed to draw the attention of the sex discrimination brigade. Men's service prior to 1972 is similarly discounted.
  8. diddydave

    diddydave Lead commenter

  9. diddydave

    diddydave Lead commenter

    A quick skim read suggests that the reasons are that although they acknowledge that it is sexist that was normal for the time and sex discrimination wasn't legislated for in this manner until 1988 when equality was achieved - no back dating the scheme to make it 'fair' as it wouldn't be affordable.
  10. Sundaytrekker

    Sundaytrekker Star commenter

    That was my memory of the discussion at the time, diddydave. I was a young teacher and was just glad this would apply for my husband in the future. I think part of the worry was that teaching was a female heavy profession so this would be a potentially big cost. However, women on average still live longer than men so I wonder what the actual numbers are that it applies to.
  11. diddydave

    diddydave Lead commenter

    I did have a wry grin when I read the phrase that stated that at the time it was the men who were the major breadwinners so it wasn't thought necessary to give the same protection to male spouses...it does make me realise just how far we have come in one lifetime, and then look again at how far we might still need to go.

    With respect to numbers the maximum cash difference is 10% (16 years / 160) of the final pay - £3000 to £5000 probably in today's terms, not an insignificant amount of money for a yearly pension.

    But we are digressing, I hope flowerswalks has enough information now to know exactly how much her husband would receive.
  12. lindenlea

    lindenlea Star commenter

    Well I had no idea about the 1988 rule. I worked from 72 - 78 and then again from 86 - 09. My salary in those early years was small but nonetheless I have no memory of being asked if I wanted to change my pension status when I married in 75. You live and learn.
    Lara mfl 05 likes this.
  13. flowerswalks

    flowerswalks New commenter

    Thank you so much kind people for your responses - they are very helpful.
  14. Sundaytrekker

    Sundaytrekker Star commenter

    When you retire there is a benefit statement which includes an amount of family/spouse benefit. Mine was half because all my pensionable years were after 1988 ( I had taught before that but withdrew pension benefits on maternity leave).
    yodaami2 and Lara mfl 05 like this.
  15. lindenlea

    lindenlea Star commenter

    @ Sundaytrekker I should look that out. Thanks.
  16. HelenREMfan

    HelenREMfan Star commenter

    So would my OH receive a portion of the pension I already draw + some of the new pension I have been accruing through part time work since 2009?
  17. Sundaytrekker

    Sundaytrekker Star commenter

    If you’re married, yes, but not for your service prior to 1988 unless you paid extra to buy this benefit back. If your post 2009 service is with TPS then yes there will be a spousal benefit to that when you claim it (if you haven’t already).
  18. diddydave

    diddydave Lead commenter

    All depends, I'm not a financial expert but from my reading of it....

    ...if you are female and your other half is male and your first pension period was only 1972-1988 then they get nothing from that pension. Any years after 1988 would give them 1/160th of your final salary.

    ...if you are male then they should get half of your pension that you already draw and...

    and for either gender they should get from the subsequent pension you are building up, half of any final salary scheme amount and 37.5% of any career average amount.
  19. applecrumblebumble

    applecrumblebumble Lead commenter

    So what would happen if the wife, a deferred member in final salary scheme died before claiming their pension. Does the pension die with them?
  20. Sundaytrekker

    Sundaytrekker Star commenter

    I’m not sure of this but I think the husband would apply to TPS and a death grant equivalent to five years pension would be paid. I don’t think there would be an ongoing pension. But, as I said, I’m not sure even though I’ve searched their website so please phone TPS and ask if this is important to your situation.

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