Death
What is payable if I die in service before Normal Retirement Date?
Section A members
- a lump sum of 2.5 times Final Pensionable Pay at the date of death.
- a refund of your contributions to the Scheme.
- if you have completed at least two years Qualifying Service, a Partner’s pension of 50% of the pension that would have been payable to you calculated as outlined in the relevant members booklet but based on Final Pensionable Pay at the date of death and Enhanced Pensionable Service.
- if a Partner’s pension is payable, a pension for your dependant children of 25% of your Notional Pension if you have one dependant child or 50% of your Notional Pension (excluding any voluntary pension) if you have more than one dependant child (shared equally between all eligible children).
- if a Partner’s pension is not payable, a pension for your dependant children of one-third of your Notional Pension if you have one dependant child or two-thirds of your Notional Pension (excluding any voluntary pension) if you have more than one dependant child (shared equally between all eligible children).
Section B members
- a lump sum of 2.5 times Final Pensionable Pay at the date of death.
- a refund of your contributions to the Scheme.
- if you have completed at least two years Qualifying Service, a Partner’s pension of 37.5% of the pension that would have been payable to you calculated as outlined in the relevant members booklet but based on Final Pensionable Pay at the date of death and Enhanced Pensionable Service.
- if a Partner’s pension is payable, a pension for your dependant children of 18.75% of your Notional Pension if you have one dependant child or 37.5% of your Notional Pension (excluding any voluntary pension) if you have more than one dependant child (shared equally between all eligible children).
- if a Partner’s pension is not payable, a pension for your dependant children of 25% of your Notional Pension if you have one dependant child or 50% of your Notional Pension if you have more than one dependant child (shared equally between all eligible children).
What is payable if I die on or after Normal Retirement Date or after taking early retirement?
Section A members
- if you have not yet received five years payment of pension, a lump sum equal to the last instalment of your pension times the number of instalments left in the rest of the five-year period.
- a Partner’s pension of 50% of the amount of your pension (excluding any voluntary pension) at Normal Retirement Date before the exercise of any option to take a tax-free cash sum and, if you retired voluntarily before Normal Retirement Date, ignoring any early retirement reduction factor which was applied to your pension at retirement.
- if a Partner’s pension is payable, a pension for your dependant children of 25% of your Notional Pension if you have one dependant child or 50% of your Notional Pension if you have more than one dependant child (shared equally between all eligible children).
- if a Partner’s pension is not payable, a pension for your dependant children of one-third of your Notional Pension if you have one dependant child or two-thirds of your Notional Pension if you have more than one dependant child (shared equally between all eligible children).
Details of the benefits payable if you die in service after Normal Retirement Date will be available at that date or on request.
Section B members
- If you have not yet received five years’ payment of pension, a lump sum equal to the last instalment of your pension times the number of instalments left in the rest of the five year period
- A Partner’s pension of 37.5% of the amount of your pension (excluding any voluntary pension) at Normal Retirement Date before the exercise of any option to take a tax-free cash sum and, if you retired voluntarily before Normal Retirement Date, ignoring any early retirement reduction factor which was applied to your pension).
- If a Partner’s pension is payable, a pension for your dependent(s) of 18.75% of your Notional Pension if you have one dependent or 37.5% of your Notional Pension if you have more than one dependent (shared equally between all eligible dependents).
- If a Partner’s pension is not payable, a pension for your dependents of 25% of your Notional Pension if you have one dependent or 50% of your Notional Pension if you have more than one dependent (shared equally between all eligible dependents).
Details of the benefits payable if you die in service after Normal Retirement Date will be available at that date or on request.
How is the lump sum death benefit paid?
Section A members
The lump sum death benefit is distributed by the trustees to your relatives, dependants, or estate. This means that (under current law and practice) no inheritance tax is payable.
You cannot control how the trustees will distribute this benefit, but they will consider your wishes if you have given them a completed nomination form.
Children are eligible for pension if they are under age 23 or, or any age if they are unable to undertake gainful employment because of physical or mental impairment.
Section B members
The lump sum death benefit is distributed by the trustees to your relatives, dependants, or estate. This means that (under current law and practice) no inheritance tax is payable.
You cannot control how the trustees will distribute this benefit, but they will consider your wishes if you have given them a completed nomination form.
Children are eligible for pension if they are under age 23 or, or any age if they are unable to undertake gainful employment because of physical or mental impairment.