If you die whilst in receipt of a pension then a death grant is payable. A death grant is payable only if death is within the first 10 years of the pension starting and you are under 75.
You can express your wish as to who you would like any death grant to be paid by completing and returning an expression of wish form.
You can nominate anyone to receive the death grant however the Fund is not legally bound by your nomination and retains absolute discretion as to who receives payments, but will take your wishes into account.
If the pension benefits have built up only after April 2014 then the death grant payable is:
10 x the amount of pension before exchanging any pension for lump sum (if applicable)
Less - the amount of pension that has been received up to the date of death
Less - the amount of lump sum taken
If the pension includes benefits built up both before and after April 2014 then the death grant is calculated separately for both periods and added together:
The death grant payable relating to membership built up before April 2014 is:
10 x the amount of pension after exchanging any pension for lump sum
Less the amount of pension that has been received up to the date of death
PLUS
The death grant payable relating to membership built up after April 2014
10 x the amount of pension before exchanging any pension for lump sum (if applicable)
Less the amount of pension that has been received up to the date of death
Less the amount of lump sum taken (proportioned according to membership before April 2014)
If you retired on or before the 31 March 2008 the Death Grant payable in the event of your death is 5 times the value of your annual pension, less any already paid. There is therefore no death grant now payable on the death of a member who commenced pension before 31st March 2008.
Survivors Pension
There will be also be a pension payable to your husband, wife, civil partner or co-habiting for their lifetime.
Children's Pension
If you have children who are under the age of 18, or under the age of 23 and still in full time education, as at the date of your death there will be a pension payable for as long as they are eligible.