If my husband were to pas away do I get any ss or pention from his job considering he's only 46 year old

Social Security yes. When your retire you can draw from his. As far as a pension goes you can't have anything unless he is putting into one already.

This depends on the terms of the company pension. You need to review the plan documents.

Most companies don't have a "pension" plan anymore, they do have IRA or 401K plans that the employee puts money into, does he have one for these

If he has a defined contribution plan (like a 401k) then it goes to the named beneficiary of the plan. If it's a defined contribution plan, then it depends on the terms of the plan whether you get anything out of it.

Is your husband sick? He's only forty-six, why do you think something is going to happen to him?

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Originally Posted by Kitkat22

Is your husband sick? He's only forty-six, why do you think something is going to happen to him?

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Kitkat - It is a really good idea to know what insurance, pension, retirement benefits, etc are in place for you in case your spouse were to die. It's part of good financial planning, and with proper planning at least the financial trauma of a loved one passing away can be lessened somewhat.

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Originally Posted by califdadof3

Social Security yes. When your retire you can draw from his.

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Kind of. The surviving spouse gets the higher of the two social security checks, you can't draw from both.

Also, you need to be married at least 10 years at the time of the person's death for you to try and collect off his SSR account.

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Originally Posted by Kitkat22

Is your husband sick? He's only forty-six, why do you think something is going to happen to him?

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Yes he has a heart condition since birth.

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Originally Posted by ScottGem

If he has a defined contribution plan (like a 401k) then it goes to the named beneficiary of the plan. If its a defined contribution plan, then it depends on the terms of the plan whether you get anything out of it.

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Thank you ,the information was very helpful.

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Originally Posted by SHOTSI

yes he has a heart condition since birth.

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I'm very sorry for your husbands heart condition! Hope the people here have helped you! Blessings:)

If there is a pension plan, by law you have to be vested after 5 years in the plan. Check terms of the plan.

I never thought of it, but you may have to be collecting in order for a portion of the benefits to be transferred to the spouse. You may have to make an irrevocable selection once the pension or disability pension is about to start. An example of an election is an eligible survivor (e.g. spouse) is entiled to 50% of the pension or say for a 3% pension penalty 75% of the pension goes to the eligible survivor. Age or years has to be met. e.g. Can collect pension after 25 yrs service and any age, a reduced pension between 25 and 30 yrs or a full or reduced pension when you reach retirement age.

I believe that SS has to be set up the same way, with a right of survivorship with some sort of penalty.

In any event, if he passed away, you may not be able to collect until the year he would have reached retirement age unless disabled.

IRA's have special rules too. I know you can inherit them as your own or, I believe, you can start withdrawing the RMD (Required Min Dist) at the time of death without waiting for age to kick in.

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Originally Posted by SHOTSI

If my husband were to pas away do i get any ss or pention from his job concidering he's only 46 year old

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I suppose you are referring to a private pension. There are 2 options. Your husband needs to ask the pension provider for an beneficiary form. In that form he has to specify the name of the person who he wants to get the benefit of his policy if he dies. The problem is that this is NOT legally binding. The pension provider just takes that into consideration.

The second option is putting the pension in trust where the beneficiary of the trust would receive the benefits of the policy in case he dies BUT you must go to an Independent Financial Advisor or a firm of solicitors. They will explain to you the legal consequences of doing this. This option is legally binding. You must also consider whether there is a will in place or not, the type of policy and if there are any children.

You must do something, if he dies it does not go to you automatically. It depends of the circumstances

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Originally Posted by jaberob

I suppose you are refering to a private pension. There are 2 options. Your husband needs to ask the pension provider for an beneficiary form. In that form he has to specify the name of the person who he wants to get the benefit of his policy if he dies. The problem is that this is NOT legally binding. The pension provider just takes that into consideration.

The second option is putting the pension in trust where the beneficiary of the trust would receive the benefits of the policy in case he dies BUT you must go to an Independent Financial Advisor or a firm of solicitors. They will explain to you the legal consequences of doing this. This option is legally binding. You must also consider whether there is a will in place or not, the type of policy and if there are any children.

You must do something, if he dies it does not go to you automatically. it depends of the circumstances

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Hope evryone answered your question.:)