What happens when I die?

Pensions may be payable to your spouse, adult dependants or children depending on certain criteria.

A spouse’s pension is payable of:

If the value of the spouse’s pension is below a prescribed value then the pension may be paid as a lump sum instead of a pension.

If you die in retirement before you’ve received your pension for five years a tax-free lump sum will be payable. It will be the balance of five years’ pension based on the amount of your pension at your date of death excluding Temporary Pension. Future pension increases are not taken into account.

If you have no spouse, adult dependant or children and your pension has been in payment for more than five years there are no further benefits payable.