What’s paid if you die?

The following benefits may be payable to a spouse, civil partner and/or dependant(s):

• A regular income of a proportion of the pension you have built up
• A refund of contributions, including any Additional Voluntary Contributions (AVCs) you’ve made

If you die in retirement the Scheme will provide:

• A pension to your spouse, registered civil partner or a dependant equal to: 50% of your pension on retirement, before any exchange for cash or other benefits, plus any pension increases granted since your retirement.
• Additional dependant’s pension, if you chose to exchange some of your pension for this on retirement.

Plus, if you die within five years of starting your pension:

• If you’re under the age of 75, a lump sum will be paid equal to the balance of your pension payments for those five years, assuming no further pension increases.
• If you’re over the age of 75, your pension will continue to be paid in full to a Dependant for the remainder of the five-year period.

Most pensions payable will increase each year to help them keep pace with inflation.

Your next of kin or the administrator of your will should notify the Scheme Administrator as soon as possible and the Scheme Administrator will provide details of the benefits payable and what to do, along with some forms to complete. The Scheme Administrator needs to receive all required information before they can pay any benefits, so it is important that forms are completed and information is provided promptly.