Death in Retirement

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If you die while receiving a pension from the 2000 Plan the following benefits will be paid:

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. If there is no person entitled to receive the full Spouse’s pension, a pension may be payable to one or more Specified Dependants, subject to certain conditions.

The five year payment guarantee
If you die whilst receiving a pension from the 2000 Plan 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.