Death is a tough pension calculator issue, notes Prudential

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Death is a tough pension calculator issue, notes Prudential

Mon 11th Oct 2010

Prudential has highlighted how death can be difficult to discuss, but in the interests of securing an effective pension it should be talked about.

Vince Smith-Hughes, head of pensions development, claimed that nearly half of working couples over 40 years old have not signed up for an agreement that will ensure pension income continues after the death of one partner.

According to Prudential research, fewer than one in 20 couples have discussed the difference between single and joint life annuities.

"Talking about money can be difficult enough for many couples but clearly talking about death and money is a step too far for millions," he said.

In his view, it is a "terrible risk" for someone to potentially lose some of their retirement savings if their partner passes away.

Last month, the same organisation revealed that a significant proportion of women in Britain are relying on their husbands' pensions when they retire.

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