What Is a Widow Pension?
Video Transcript What Is a Widow Pension? This is Financial Adviser, Patrick Munro, talking about what is a Widow Pension? A Widow’s Pension is an old term, really historical term designed to really put across the point that back in the industrial age when individuals were married, the husband was the only one that worked. The wife used to stay at home. And of course, life spans were lower at that time. The husband would work at a foundry or a steel mill or an industrial complex and that company would set up a pension for that individual throughout his working career, sometimes lasting twenty to twenty-five years. As the money was kept in safety, it was designed so that if the individual worker was to pass away during his employment with the company, the widow, his wife, would receive a pension from his passing, from his death and therefore it still stays to this day a historical term, Widows Pension. This is Financial Adviser, Patrick Munro talking about the term Widow’s Pension.
