When a member dies, their loved ones could get some money from the Fund. The amount they’ll get depends on the Fund schedule they’re in, and whether they’d already started taking their money when they died.

If a member dies before taking their benefits

  • We’ll normally pay an income for life (pension)

    This will go to the member’s spouse, civil partner, or partner if they qualify. We may also pay a pension for any dependent children.

  • We may also pay a cash lump sum:

    • if the member is still building up benefits in the Fund when they die: we would pay a cash lump sum of up to four times salary to the member’s nominated person or people
    • if they’ve stopped building up benefits but haven’t yet started to take benefits: we may pay a lump sum to the member’s nominated person or people.

    If the member had saved any Additional Pension Contributions (APeCs), these would be paid as a tax-free lump sum to anyone the member nominates.

If a member dies while receiving a pension

We may pay a lump sum to beneficiaries, if the member dies within 5 years of first starting to take their pension. The Trustee exercises its discretion on how this benefit is paid.

The amount we’d pay would be equal to the pension income the member would have received for however long is left of the 5-year period. These payments are calculated based on the pension income the member is receiving when they die. It doesn’t include any allowances for increases after their death.