Lump sum death grant
If you die as a contributing member of the scheme, a lump sum of 3 x your actual pay is payable, regardless of your length of service in the scheme.
Although it is very important to ensure that your expression of wish form is up to date, the Fund has the ultimate discretion over who a lump sum is made payable to. Therefore the lump sum will not form part of your estate for inheritance tax purposes.
Our Jargon Buster may help with pensions terminology.
If you die as a contributing member of the scheme, a lump sum of 3 x your actual pay is payable, regardless of your length of service in the scheme.
Although it is very important to ensure that your expression of wish form is up to date, the Fund has the ultimate discretion over who a lump sum is made payable to. Therefore the lump sum will not form part of your estate for inheritance tax purposes.
Continue readingOur Jargon Buster may help with pensions terminology.
