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International Astronomy Day 2018 – Houston do we have a problem?

Here at TPAS, we like to go where no man (or woman) has gone before with our news articles and today is no different, as we explore International Astronomy Day 2018! As we only know about Pensions and don’t know much about Astronomy, we decided to seek out some fun facts to help us with today’s piece. The World Wide Web did not disappoint and our mission led us to land firmly on the Moon! 

We won’t bore you with all of our space talk about the moon landings (or conspiracy theories about it not happening), but because of the dangerous nature of being an astronaut, life insurance coverage wasn't available to the 3 crew training to fly to the moon. To get around this and to ensure that their families were looked after should they not return the crew signed postcards that could be sold in the event of their death. These were known as ‘Apollo Insurance covers’ and were also stamped and posted on the start date of their mission, July 16th 1969 by a friend. Subsequent Apollo missions also followed suit. 

Thankfully, these postcards have instead ended up in fan collections but it makes us realise how important it is to make sure that our pension paperwork is kept up to date and to understand what our pension will provide for others when needed. 
So to avoid any problems at mission control, here are Houston’s top tips:

  1.  Nomination of wishes – You’ll usually be asked to nominate who you’d like your pension to be paid to in the event of your death. Make sure that you keep this up to date, particularly if you’ve had a change in circumstances e.g. If you’d got divorced or married
  2. Life cover – many workplace pension schemes include some life cover should you pass away before drawing retirement benefits.  The amount of life cover that you could receive depends on a number of factors. It's therefore really important for you to check and understand what applies to you and when this may change.
  3. Dependant’s pension – As the world (and space) have changed, so have dependant’s pensions. Find out whether some in your universe is eligible for a pension on your death. It may be necessary to apply for the pension so make sure that you do that whilst you are in this world.
  4.  Questions – If you watched “Hidden Figures” you would know about the amazing story of 3 women, known as "human computers", who were tasked with calculating the momentous launch of astronaut John Glenn into orbit. The “go/no-go” decision was based on guaranteeing his safe return. John Glenn specifically asked Katherine Johnson, one of the “human computers” to validate the calculations. With pensions, there are a lot of questions you should ask so that you make the most of your retirement savings.

Call one of our “pension computers” for free on 0800 011 3797 to make sure that your pension is enough to last you throughout your life and beyond!
 

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