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What happens to my pension after I remarry?

I am currently 60 years old, single, and receiving a pension. I plan to remarry in a year. Will my new wife receive my pension in the event of my death?

Marriage / Divorce, Financial Planning, Pensions
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July 2018

This depends largely on your pension plan. But that said, generally if you took a survivor's benefit when you retired and your first spouse later passed, then you could potentially continue that spousal survivor benefit. 

If you were not married at the time you retired, then you will need to contact your benefits department and ask them if it is still an option to add a survivor's benefit to your pension- But be prepared to have your pension cut while you're alive to fund this option. Sometimes, it can be less expensive to just buy a Guaranteed Universal Life Insurance policy but it never hurts to ask.

When you hear back from them, if you still have questions don't hesitate to contact me. 

July 2018
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July 2018