Marriage for pensions

[El Cid]

With the decline of marriage, the thought crossed my mind that many single people have pensions that benefits of go to the wife/husband upon death.

There must be lots of older people that would be thousands of pounds better of if they married. Do older people do this, maybe, just get married for the pension?

[syne]

There's a business to be made there; matchmaking oap according to benefit maximisation potentials, could probably tie it in with the bedroom tax to good effect..

[Annie Bynnol]

Some occupational pensions do not recognise an unmarried partner and therefore the transfer to that partner of a proportion of that pension on death.

 

Some occupational pensions will allow applications by dependents eg civil partners and disabled children. These applications are sometimes made after the death of the pensioner.

 

Some occupations have a "benefit" section to which dependents/members can apply for costs for adaptations to the house, respite care etc.. Some of the "benefit" sections are very generous.

 

A marriage certificate will make things easier.

[andrejuan]

Or even get divorced so they can get two single state pensions instead of the married persons pension?

[andyofborg]

With the decline of marriage, the thought crossed my mind that many single people have pensions that benefits of go to the wife/husband upon death.

There must be lots of older people that would be thousands of pounds better of if they married. Do older people do this, maybe, just get married for the pension?

 

as proposals go, i've had better but....

 

ok...........

 

i'll marry you

[El Cid]

as proposals go, i've had better but....

 

ok...........

 

i'll marry you

 

I dont think it would be illegal, to just do it for the money, have you got a pension too; then its just a matter of who goes first

[andyofborg]

I dont think it would be illegal, to just do it for the money, have you got a pension too; then its just a matter of who goes first

 

i have a chemistry degree, i can make stuff in the kitchen which would be very hard to detect in a post mortem

[Annie Bynnol]

Or even get divorced so they can get two single state pensions instead of the married persons pension?

 

Makes no difference.

Does not apply.

Myth.

 

For those born before 1953.

A wife used to be able to claim 60% state pension based on husbands full contributions if she had no or little NI contributions- no longer.

 

A divorce settlement would require division of property, savings and pensions accrued during the marriage -both occupational and state pensions would be "shared". So the man would loose part of his state pension to his wife so that their "pension" would be equal. There are legal requirements which protect those going through divorce

 

Born after 1953:

Every individual has now to have 10 years NI and will get either:

£120 if all 35 years of contributions are "contracted out occupational pensions".

£155 if all 35 years of contributions are "contracted in occupational".

MINUS 1/35 for all years where no contributions were made.

Husband/part contributions have no effect.

 

At minimum wage an adult will need to work about 15hrs a week to get NI stamp.

[Daven]

A couple who are close relatives of mine had been living together for over 35 years very happily but suddenly got married last year.

I believe this was for private pension reasons although I would like to think it was for a more romantic reason !

Good luck to them I say !

Edited October 2, 2016 by Daven

[tinfoilhat]

I dont think it would be illegal, to just do it for the money, have you got a pension too; then its just a matter of who goes first

 

Don't assume you'll get Andys pension when he shuffles off. I know someone who has been married 30 odd years but because of an age gap they won't get the full benefits of someone who is married and a similar age. Pensions folk may smell a rat.