Being Widowed. When a spouse passes away their financial dealings need to be organised. In some cases they will have held a number of pensions with various employers over their lifetime. They often have more than one bank account, in a few cases a second home, investments, company shares, life assurance policies, and unfortunately debts that may have accrued, large or small.
Thankfully in Ireland aside from any additional life protection that Widow’s, Widower’s of surviving civil partner’s had in place to plan for the loss of income upon death, the State also provides two forms of pensions to persons who are bereaved, namely a contributory and non-contributory pension. Today’s insight will discuss the Contributory pension in depth.