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What happens to pension after death?

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A pension provides you with an income after you retire and are no longer working. Pensions are also known as defined benefit plans, because they pay you a fixed amount each month. Some pension plans give you the option of receiving a lump sum to invest as you wish. read more

if the deceased had a flexi access drawdown pension which was set up or first accessed after 5 April 2015, any money paid within two years of the pension holder’s death will be paid tax-free. however, if the pension is claimed more than two years after the pension holder’s death, tax might be payable. read more

What happens to your pension when you die depends on whether your partner reaches state retirement age before or after that date. If your partner reached state retirement age before 6 April 2016 You may have a better National Insurance record than your wife, husband or civil partner. read more

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