Death in Retirement

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If you die while receiving a pension from the Scheme the following benefits will be paid:

Your spouse’s pension
This will be equal to 50% of your pension at your date of death, ignoring any reduction to take account of the fact that you chose to exchange part of your pension for a cash sum or the effect of choosing a Stepped Pension.


plus

The five year payment guarantee
If you die whilst receiving a pension from the Scheme within the first five years after your retirement, a lump sum equal to the unpaid balance of five years’ pension payments (at the rate applicable at the date of death disregarding future increases) will be paid at the Trustees’ discretion.




Continued Life Cover
If you joined the Scheme before 1 October 1991 and retire from active service before your Normal Retirement Date on normal grounds and choose the Continued Life Cover option, or if you retire due to incapacity or chronic ill-health, you will continue to be covered for the Continued Life Cover up to your Normal Retirement Date.



The amount of cover depends on your age at retirement, and is detailed below: 

Age at date of retirement Lump sum
50 to under 55 1 x Annual Earnings at date of retirement
55 to under 65 3 x Annual Earnings at date of retirement
  • This benefit is reduced by any lump sum otherwise payable from the Scheme in the event of your death within five years of retiring.
  • The life assurance will be paid to your spouse or legal personal representatives. 
  • If you retire due to chronic ill-health you will be covered for Continued Life Cover up to your Normal Retirement Date equal to 3 times your Annual Earnings at date of retirement.

Note: Continued Life Cover is not available for members who have commuted the whole of their pension for a lump sum under the Scheme.

Restricted terms
If you are a member admitted on the basis of restricted terms, the amount of Continued Life Cover or lump sum death benefit (for death in service) may be restricted. If you are affected by restricted terms this will have already been notified to you.