A person leaves the service of an employer and has a pension pot accumulated (example 500,000 euro). If they subsequently die before any pension benefits are paid, what happens to the pension ? They have a Spouse, no children.
Thank you
Thank you. Yes they have a will, leaving all to the Spouse. Can the value of the pot be converted into a future monthly payment for the Spouse (as a monthly income) or does the pension value (500,000) get converted to lump sum cash ?
One of the important benefits often associated with pension arrangements is the availability of benefits payable on or after your death. These benefits are very important as they are the means by which you can make financial provision for dependants and beneficiaries.
Benefits emerging from a pension fund on the death of a member are assessable on the recipients for the purpose of Capital Acquisitions Tax (CAT) and/or income tax...