Managing finances

Planning ahead for peace of mind

Ensuring your finances are in order is an important step in preparing for end of life. This page will guide you through key steps you can take to help ensure everything is handled according to your wishes.

Why is it important to manage your finances?

Planning for the future can feel difficult, but can help to:

Reduce stress for your loved ones.
Ensure your wishes are respected.
Consider how your loved ones may be cared for.
Bring peace of mind.

Steps to consider

Keep financial records safe. Ensure your trusted person knows where to find key information about your finances, property, and valuables.
Apply for benefits. Make sure you are receiving the right pension, allowances, or grants for your situation.
Set up a Lasting Power of Attorney (LPA).
Write or revise your will – CISWO has partnered with Octopus Legacy to provide a free will writing service for former mineworkers and their families.
Plan for funeral costs. Consider setting aside funds or making arrangements to ensure your wishes are met.

If you are a member of a mining industry related pension scheme, such as The Mineworkers Pension Scheme (MPS) or British Coal Staff Superannuation Scheme (BCSSS), your pension may not automatically pass to a specific person upon your death.

You should complete an expression of interest form to nominate who you would like to receive your pension if you die. It is important to make sure that your wishes are formally noted. There can be restrictions on eligibility, and it is important to find out your available options so that you can plan for the future.

Whilst CISWO does not provide pensions advice, we can help support you with this process.

Understanding your finances

Having a clear record of your financial situation helps others when you’re no longer here.

CISWO’s end of life planning booklet, All Things Considered, is a useful booklet, designed to help former mineworkers and their dependent families to record important details about income, expenses, savings, pensions, and any debts.

Find out more

Further help and support

If you or someone you know is in need of help with end of life support, estate planning, support through bereavement, or to access any of our services, contact our personal welfare team today.