[and0907]

My Father recently died after 32 yrs working for same firm where he paid into a pension for this period. He took redundancy 6 years ago when my Mum died and has been in receipt of monthly pension since. I have been told I have to pay back all monies from the day after his death. Do the Company just keep all the money he paid in over all this time now that he has died at 63?

[JudyKayTee]

Depending on how he set up payment of the pension, yes, it's possible.

Did he set up widow's benefits or just a benefit (payment) for himself?

[ebaines]

and0907 - it would help to know what country your father worked in. I'm guessing the UK - is that right?

Here in the US the terms of pension benefts vary from company to company. Traditional pension plans are known as "defined benefit" plans because they guarantee a certain payout per month as long as the retiree (and optionally his spouse) is alive. The worker doesn't really have his own account balance that he owns but rather builds up credit for salary earned and years worked. If that's what your father had then yes, payments stop upon death - just like Social Security or an annuity.

[and0907]

Thanks for your advice, I think I need to simply ask more questions when I feel a little stronger. I have filled in forms from the company, and I am thinking that because my Mum died, therefore no Widow's Pension and my Brother and I are quite clearly over the age of 18, then yes they get to keep all of his contributions...