Pension of Father - I am Nominee and First Son
1 year ago
I am Nominee and First Son.
After death of father..mother is holding pension acc with me as Nominee.
My question is
1. Will i have to make Some special claim to money in bank or i vil b entitled to money after mothers death.
A.Dear Sir,
If your attained age of majority that is crossed 18 years of age then you are not entitled for any pension.
If your attained age of majority that is crossed 18 years of age then you are not entitled for any pension.
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A.Yes you'll be entitled to the money after mother's death, there is a guaranteed period, the pension will be paid to the Beneficiaries until the end of that period and income tax will apply to those payments. With joint pensions, income will continue to be paid to the surviving person (if applicable) until their death; usually at a reduced rate
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