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Pondering a Pension

February 14th, 2010 at 07:13 am

Just a quickie. Hubby got a registered letter from his company today, telling him that he has now paid into the pension plan long enough for me to qualify for a surviving spouse benefit, and if we want it, to submit the paperwork. "So" he says to me, "do you think you want it?" "Oh yeah" says I, "wait until I tell the kids that I get to move in with one of them, because you wouldn't fill out some paperwork!" End of discussion. P.S. The completed paperwork went to work with him tonight to drop in the shift bosses' mailbox! HehHehHeh.

Posted in Retirement, Stupid Stuff | 4 Comments »

4 Responses to “Pondering a Pension”

  1. creditcardfree Says:
    February 14th, 2010 at 02:22 pm 1266157346
    1266157346

    Funny! Glad you got that taken care of.

  2. Joan.of.the.Arch Says:
    February 14th, 2010 at 04:35 pm 1266165346
    1266165346

    Does it change the pension he receives while you are both living?

  3. homebody Says:
    February 14th, 2010 at 04:48 pm 1266166088
    1266166088

    Joan asked a good question. My kids already know we are living with them! OD bought a house with a downstairs bedroom/bath. Ha Ha.

  4. girltherapy Says:
    February 14th, 2010 at 09:47 pm 1266184074
    1266184074

    The letter says that if we go for this option,, and he retires before age 55 (not happening) it will reduce the amount paid out to him by 1/10 of 1%, for each benefit payment until he reaches the age for full retirement benefits, or until he has been paying into the fund for 30 years. If he retires after age 65, but has not paid into the fund for 30 years, it will reduce the amount paid by 1/2 of 1%, for each benefit payment, until the 30 year mark. But if he waits to retire until he has paid into the fund for 30 years, (doubtful) then there is no reduction in benefits. Is that legal doublespeak or what? I understand that the optimum situation would be to not retire until you have paid into the fund for 30 years, but the amount withheld is rather miniscule, and I'm not worried about it. Besides, he would be well over 70 by that time, and if we are still here, I hope to be doing something more interesting than going to work every day!

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