Pension after a death: who may claim the money?

When a pensioner dies shortly before or after a scheduled payment, families often face both emotional loss and confusing practical questions about the money that appears on the deceased’s bank account. The outcome depends on three separate issues: whether the amount is the deceased’s final pension, whether it was already part of their bank balance, and whether any family members qualify for a survivor’s pension.

What to check first

First, relatives should establish three dates: the date of death, the date the payment was posted to the account, and the period the pension payment covers. These facts determine whether the transfer was a pension entitlement that belonged to the deceased at the time of death or a payment made afterwards that needs clarification.

Knowing the card number or the account PIN does not give a family member the legal right to withdraw funds after the owner’s death. Banks and inheritance rules apply once a person dies, so notify the bank and ask for instructions rather than using the card.

If a pension payment appears on the account after the death, do not assume it is freely available. The Pension and Disability Insurance Fund (PIOSM) will assess whether the amount was due to the deceased under pension rules for the period in question. Until the Fund and the bank clarify the payment’s status, it is safer not to withdraw the money.

Money that the pensioner had accumulated in the account earlier — for example, a balance of 120,000 denars from previous pensions, wages or other income — is treated differently. That sum is part of the deceased’s estate and must be handled through bank and inheritance procedures rather than as a fresh pension payment.

Survivor’s pension is not an automatic continuation of the deceased’s pension for a spouse. Family members who believe they qualify must file a claim and meet the statutory conditions; the Fund will decide based on age, capacity to work, caregiving responsibilities for eligible children and other legal criteria. The amount a survivor receives can differ from the pension the deceased collected.

There are also separate arrangements for funeral assistance and for funds in the second (mandatory, funded) pension pillar. The person who paid funeral costs can inquire with PIOSM about eligibility and required documents for the funeral grant. Savings in an individual account from the second pillar have a distinct legal status and, if no family member qualifies for a survivor pension, those funds can become part of the estate and subject to inheritance rules.

In short: do not rush to withdraw money. Check the dates and the payment period, inform the bank and contact the Pension and Disability Insurance Fund (PIOSM). Then establish whether any family member can claim a survivor’s pension, whether the bank balance is part of the estate, and whether a funeral grant is due.

Photo: press material from the event