In the event of your death, a lump sum and pension benefits for your dependant's may be paybale.
The benefits payable will depend on your circumstances at the time of your death.
A lump sum on death is a normally tax free sum of money that:
- is payable after your death while still an active scheme member
- may be payable after death in retirement if you have been in receipt of your pension for less than five years
A lump sum on death goes to the organisation or one or more persons you have nominated to receive it.
If you have not made such a nomination, the lump sum on death goes to your
- surviving spouse
- civil partner
- qualifying nominated partner, if you have one
Otherwise, it goes to your legal personal representative.
We base the lump sum on death on your circumstances at the time of death.