When Someone Dies...

[The Mad Monk]

When someone dies - let's call him John Smith.

When John Smith dies who tells his company pension scheme so that Mrs Smith only gets half his pension?

[SpeckledJim]

Someone who doesn't want to get prosecuted for fraud?

[psi310398]

The executor normally.

If the money is paid into a solo personal account, it will be returned when the account is closed, if into a joint account, then it might take a while for the pension administrators to realise but they normally require proof of life on a regular basis, at which point they’d start recovering the overpayment.

When my MIL died, we notified the relevant scheme that then sat with a thumb up its arse for several months. Irritatingly, it then wrote to us to recover the overpayment after probate had been granted and the estate settled, and after my FIL had died, which caused a few problems but I think we just wrote them a cheque in the end.

[Bobberoo]

Having been through it fairly recently i can tell you it's either the executors or next of kin.

[K87]

I have been wondering this myself, especially as I have no next of kin and no executor.

[The Mad Monk]

Bobberoo said:

Having been through it fairly recently i can tell you it's either the executors or next of kin.

If the executor or next of kin omit to tell the pension company, how would/will they find out?

[K87]

The Mad Monk said:

Bobberoo said:

Having been through it fairly recently i can tell you it's either the executors or next of kin.

If the executor or next of kin omit to tell the pension company, how would/will they find out?

I am only guessing MM but I know that you need to have the persons NI number when you register the death, perhaps this is used to pass down to people who have a legitimate interest such as pension companies.

I am concerned because I don't know who would register my death.

[heisthegaffer]

K87 said:

The Mad Monk said:

Bobberoo said:

Having been through it fairly recently i can tell you it's either the executors or next of kin.

If the executor or next of kin omit to tell the pension company, how would/will they find out?

I am only guessing MM but I know that you need to have the persons NI number when you register the death, perhaps this is used to pass down to people who have a legitimate interest such as pension companies.

I am concerned because I don't know who would register my death.

I am curious about your last comment. Why does it matter to you if you're dead with no NOK or executor?

[Bobberoo]

K87 said:

The Mad Monk said:

Bobberoo said:

Having been through it fairly recently i can tell you it's either the executors or next of kin.

If the executor or next of kin omit to tell the pension company, how would/will they find out?

I am only guessing MM but I know that you need to have the persons NI number when you register the death, perhaps this is used to pass down to people who have a legitimate interest such as pension companies.

I am concerned because I don't know who would register my death.

A lot depends on if you have a will, logically anyone with property, assets, money, even simple belongings should have a will, within that you'd either appoint solicitors to act on behalf of your estate or appoint executors, they can be anything from the solicitors themselves through family and even a bloke you met down the pub, they will however have been asked to be the executor of your estate and agreed to be so, it then falls to them legally to ensure that everyone is informed, all wishes from the will are met, all monies owed are paid to the estate including cashing in pensions, bank accounts, bonds etc, that funeral expenses are paid and any outstanding debts are paid, and then disperse the estate as per the will.

IANAL, so don't take anything i've said as law!!

[CobolMan]

I went through this when my mum died. When we told her bank they froze her accounts so no deposits or payments could be done until we had probate. As Isaac says, most companies have a bereavement line and all the ones I dealt with were very good apart from one, sounds like Tritish Belecom.

[voram]

The Mad Monk said:

If the executor or next of kin omit to tell the pension company, how would/will they find out?

When the bank is notified of death they will automatically close the dead person's account, so any future pension payments would bounce back to the pension company.

If it's a married couple with a joint account then the account is not closed. But as someone said above it would be a bad idea to go on taking the money because of risk of prosecution.

[Jasandjules]

In some cases the pension is transferrable to the surviving spouse.......

[Monkeylegend]

Jasandjules said:

In some cases the pension is transferrable to the surviving spouse.......

Mine is, and tax free if I carp it before I reach 75 so I will be very careful what I eat and drink from 74 onwards.

[Vasco]

K87 said:

I have been wondering this myself, especially as I have no next of kin and no executor.

Why do you not have an executor ? - presumably, you don't want to make a Will ?

[eliot]

anonymous said:

[redacted]

Best piece of advice ever. Always got a human who were too happy to help.