Who benefits if I die before retirement?

If you are survived by a spouse, they would be entitled to a pension of 50% of your deferred pension at date of death. If there are dependent children (i.e. unmarried children aged under 18 or under 22 if undergoing full-time education and who were born before you left the Company’s service) an allowance will be paid equal to 20% of the spouse’s pension for the first eligible child and 10% in the case of each additional child, up to a maximum of four dependent children.

If you are survived by a spouse and you were in active service pre 31 December 1972, they will also be entitled to a spouse's gratuity. This is a one off lump sum payment equivalent to three months installments of your deferred pension at date of death.

The Trustee has discretion in determining to whom, if anyone, a spouse’s pension is payable. You should notify the Trustee in writing of any special circumstances applying in your case using a beneficiary form.

Note:

If not survived by a spouse (and the Trustee does not exercise the discretion referred to in the previous paragraph) the value of your deferred pension rights would be calculated as at the date of death and then paid as a cash lump sum to your estate.