Question
I am entitled to an Inherited SERPS payment from my late husband. At what age do I start to receive this please? I was Born Late 1953.Answer
You'll receive your late husband's SERPS at the same time your state pension commences. Given you were born after 6 April 1953 you'll unfortunately fall into the increased women's retirement age of somewhere between 64 and 66, depending on your exact date of birth. The Pension Advisory Service has a useful calculator.
Note: you'll lose your eligibility to inherited SERPS if you re-marry.
The proportion of the inherited SERPs you'll receive depends on when your late husband was born, as per the following table:
5 October 1937 or before 100 per cent
Between 6 October 1937 and 5 October 1939 90 per cent
Between 6 October 1939 and 5 October 1941 80 per cent
Between 6 October 1941 and 5 October 1943 70 per cent
Between 6 October 1943 and 5 October 1945 60 per cent
6 October 1945 and after 50 per cent
There is a limit of overall weekly state pension you can receive of £161.94 (2012/13), including your own extra pension (SERPS/S2P) if applicable, as well as the inherited SERPS.
I'd suggest contacting the state pension forecast service (details here) on 0191 218 3600 to get confirmation of exactly how much you're due to receive.
Hope this helps.
I am entitled to an Inherited SERPS payment from my late husband. At what age do I start to receive this please? I was Born Late 1953.Answer
You'll receive your late husband's SERPS at the same time your state pension commences. Given you were born after 6 April 1953 you'll unfortunately fall into the increased women's retirement age of somewhere between 64 and 66, depending on your exact date of birth. The Pension Advisory Service has a useful calculator.
Note: you'll lose your eligibility to inherited SERPS if you re-marry.
The proportion of the inherited SERPs you'll receive depends on when your late husband was born, as per the following table:
5 October 1937 or before 100 per cent
Between 6 October 1937 and 5 October 1939 90 per cent
Between 6 October 1939 and 5 October 1941 80 per cent
Between 6 October 1941 and 5 October 1943 70 per cent
Between 6 October 1943 and 5 October 1945 60 per cent
6 October 1945 and after 50 per cent
There is a limit of overall weekly state pension you can receive of £161.94 (2012/13), including your own extra pension (SERPS/S2P) if applicable, as well as the inherited SERPS.
I'd suggest contacting the state pension forecast service (details here) on 0191 218 3600 to get confirmation of exactly how much you're due to receive.
Hope this helps.
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