What happens if I die?
If you die while you’re an active member of the Scheme, your dependents will receive a tax-free lump sum of four times your pensionable salary. You can let the trustees know who you want to receive any lump sums by completing an Expression of Wish form. The trustees aren’t legally bound to follow your wishes (this means lump sums are usually free of inheritance tax), but it will help them make their decision.
You should make sure you keep your Expression of Wish form up to date, especially if your family or marital circumstances change. The Expression of Wish form is held on the Library page
If you die while an active member of the Scheme, a pension is payable to your spouse or civil partner.
The pension is based on your length of service from the date you joined the Scheme to your date of death, plus the prospective service to your Normal Pension Age, subject to a maximum of 40 years.
If you have a long-term partner, but you are not married or in a civil partnership, you should complete a Nomination form, as a dependant’s pension is not automatically payable in these circumstances. The Nomination form lets the trustee know that you have a partner. The Nomination form details the conditions that need to be met for a pension to be paid to your partner.
If your spouse or partner remarries or sets up home with a new partner after your death, the pension will cease to be paid. The pension will also reduce if your spouse or partner is more than 10 years younger than you.
If you have children under the age of 17 they will be entitled to a children’s allowance. If you have children older than 17 but under 23 and in full-time education or vocational training, they may also be entitled to receive an allowance.
The allowance is 25% of the prospective pension calculated to age 65; if you don’t leave a spouse or partner, this is increased to 33%. If there are two or more children, the allowance is based on 50% of your prospective pension calculated to age 65, shared equally between each child; if you don’t leave a spouse or partner, this is increased to 66%.