14 May 2024 , 04:56
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The state pension, currently providing a steady income for nearly 12.7 million elderly people across Great Britain, is managed by the Department for Work and Pensions (DWP).
It's accessible to those who have reached the UK Government's eligible retirement age - now 66 for both men and women - and have made at least 10 years' worth of National Insurance contributions.
Approximately 3.4 million individuals are now receiving payments of up to £221.20 each week from the new state pension. As this contributory benefit is typically paid every four weeks, this amounts to £884.80 per pay period, according to the Daily Record.
The majority of claimants (9.3 million) receive basic state pension payments of up to £169.50 each week, equivalent to £648 per pay period. The type of state pension a person receives depends on their date of birth.
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Men born before April 6, 1951 and women born before April 6, 1953 are eligible for the basic state pension, while those born after these dates will receive the new state pension.
But what occurs with state pension payments when someone passes away? It's a challenging topic and not one anyone would opt to ponder on, but understanding what will transpire could assist you or a family member. Here's a brief rundown of what you need to know.
State pension payments after someone passes away
When a person dies, their state pension claim does not automatically stop; certain procedures must be followed. It's vital to inform the Pension Service in order to end the payments, which can be done by calling their helpline on 0800 731 0469.
You may be eligible for additional payments from your deceased spouse or civil partner's state pension, depending on their National Insurance Contributions and the time they reached state pension age. If you have not yet reached state pension age, bereavement benefits could also be available.
Concerning inheritance and theb basic state pension, if your spouse or civil partner reached state pension age before 6 April 2016, the GOV.UK website recommends getting in touch with the Pension Service following their death to explore potential claims.
If you're not already receiving the full amount, you might be able to boost your basic state pension using the qualifying years of the deceased.
On the UK Government website, there is a tool called "Your partner's National Insurance record and your state pension" that can help you determine what you might be entitled to inherit. This is applicable if you or your deceased spouse or civil partner reached state pension age on or after 6 April 2016, or if they passed away while you were under the state pension age.
For individuals who are unmarried, divorced, or have had their civil partnership dissolved, their estate may be able to claim a part of the basic state pension.
If someone dies after reaching state pension age without claiming their state pension, the estate can claim up to three months of the basic state pension.
Choosing to defer state pension payments can result in increased payments when they are finally claimed, by around £600 annually, for those who opt to continue working after reaching state pension age.
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As per GOV. UK, anyone who has topped up their state pension may have some or all of the top-up inherited by their spouse or civil partner.
An additional payment on top of the new state pension may be inherited by an individual if they are widowed. However, nothing can be inherited if they remarry or form a new civil partnership before reaching state pension age.
If a marriage or civil partnership started before April 6, 2016, and one of the following conditions applies, then an individual may inherit part of their deceased partner's additional state pension.
If a person's marriage or civil partnership with their partner began before April 6, 2016, and their state pension age is on or after April 6, 2016, or they died on or after April 6, 2016, they will inherit half of their partner's protected payment. This payment will be made with the state pension.
If your partner has sadly passed away, you might be eligible to inherit a portion or all of their additional state pension or lump sum. This is applicable if they were deferring their state pension or had started claiming it post-deferral, reached the state pension age before 6 April 2016, and were either married or in a civil partnership when they died.
You can work out how much you could potentially receive by checking your state pension on the GOV. UK website.