Pension: can I remarry?
My husband has it set up that I will draw his retirement if he dies. But if down the line I want to remarry will I still draw that retirement or will it stop ?
Wendy: First, I just have to say I really wish you weren't concerned about when he dies and if you remarry? Live life! Enjoy life!
Please don't spend your retirement days worried about future fears that may never happen... you'll get yourself sick, for no reason at all.
Second, the pension plans that I've worked with all had lifetime survivor spouse options... However without reading the plan document itself, there is no way anyone can guarantee the lifetime pension. Ask him to request the pension plan document.. and read through the survivor sections, if you feel it necessary.
On the plans I worked with, regardless of where life might take the survivor, they received the pension because: (l) their spouse had earned it via his working years, and (2) he also took a pension reduction to give the wife that option. He reduced HIS lifetime pension deliberately to cover his life and also provide the spouse benefit.
Finally, I have known couples, for health care reasons, that lived together instead of marrying. I hesitate to put another worry out to you, but IF you get both pension and health care - that is another concern -- before you ever remarry.
Just ask questions at that time... then make the decision (which should be ruled by the heart, and not the reality... but this is life today).
Smile... Life is Good!
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