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Senior Partner
Senior Partner, Solicitor
Category: Law
Satisfied Customers: 13329
Experience:  Solicitor with more than 30 years experience
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I have pensions with Sun life of Canada one payed monthly

Customer Question

I have pensions with Sun life of Canada one payed monthly and one yearly when I die will my widow or partner still receive that pension
Submitted: 2 years ago.
Category: Law
Expert:  Nicola-mod replied 2 years ago.
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Expert:  Senior Partner replied 2 years ago.
Hi thanks for your question. I am afraid the answer depends entirely upon the terms of the policy - if you have taken a pension annuity on maturity of the policy then you should have been told the terms but the life company should be able to advice you. Just call them with the policy numbers.
Generally widows pensions if paid are only a portion of the main pension eg 50%.
The only way to preserve the full benefit is not to take an annuity but to transfer the fund out to a Sipp. You should speak to an IFA who can advise you.