Friday 24 January 2014

WWhat happens when someone has a 10 year certain retirement plan and passes away after it expires who gets the rest of the pension

Question

WWhat happens when someone has a 10 year certain retirement plan and passes away after it expires who gets the rest of the pension



Answer

It would go to the designated beneficiary, if there is one. If there is no designated beneficiary then it passes to the default beneficiary, which is likely to be the decedent's estate but the contract could name a default beneficiary such as spouse, children, etc., depending on the terms of the contract.



No comments:

Post a Comment