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FAQ's
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14. What happens to my benefits if I die?
There may be a lump sum payable, depending on your date of death:
- If you die in service we will pay a lump sum death grant to your estate or the person or persons you have nominated. The death grant is equal to three times your final pay.
- If you die whilst holding deferred benefits in the scheme, the fund will pay a death grant to your estate or the person or persons you have nominated. If your benefits were deferred on or before 31st March 2008, we will pay a lump sum which is three times the annual pension. If your benefits were deferred on or after 1st April 2008, we will pay a lump sum which is five times the annual pension.
- If you retire on or before 31st March 2008 and then die within 5 years of retiring, the balance of five years pension will be paid as a lump sum.
- If you retire on or after 1st April 2008 and then die within 10 years of retiring, the balance of ten years pension will be paid as a lump sum. (NB: you must be under age 75 when you die to be eligible for a death grant).
In addition to any lump sums that may be payable, the scheme may pay surviving partner’s pension and/or children's pensions to an eligible partner and/or dependant children if you die at any time in service or after retirement.
For further information on death benefits, please see the ‘protection for your family’ section |
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