Make sure your workplace death benefit goes to the person you want it to
Many workers are entitled to a ‘death in service’ lump sum, which can be paid to a family member
Thinking about your own death is all a bit grim, but if you’re employed, it’s likely that your employer offers you a benefit called ‘death in service’ benefit or ‘death in service’ lump sum. It typically pays out a lump sum worth several times your salary if you die while you work for the company. Make sure the money goes to those you want it to.
Retiring early due to ill health: what are the rules?
If you are unable to continue working you may be able to retire and take your company pension early
If you’re ill and find that your illness or medical condition is so bad that you can’t continue to work, you should find out whether your employer will let you take your pension early. Whether or not you can retire early due to ill health will depend on the pension scheme rules. And if you’re terminally ill and have less than a year to live, you may be able to take your whole pension as a lump sum.
What could the government’s planned reform of workplace pensions mean?
The government wants to make changes to both final salary and stockmarket based pensions. Good or bad news?
I don’t know whether or not you’ll have seen the Express or Telegraph newspapers this morning, but the Telegraph has a headline saying ‘pensions face new blow from ministers’ while the Express headline is ‘bigger, better pensions for all’. Confused? I’m not surprised! So what is the government thinking about?