Who benefits if I die?

For former members of the Fund

Cash lump sum

If you die within five years of starting to receive your pension, a cash lump sum will be payable. This is calculated as the pension payable at date of death multiplied by the unexpired portion of the five-year period.

Spouse’s pension

Your spouse will receive a pension equal to 50% of the Fund pension being paid to you at the date of death, ignoring any reduction if you had exchanged part of your pension for a cash lump sum when you retired.

If you are unmarried and want someone who is financially reliant on you to receive a dependant's pension on your death, you should complete an Expression of Wish Form available from the Pensions Team.  A nomination will only be accepted on this form and the payment of any benefit is subject to the approval of the Trustee.

Children’s pension

If there are dependent children (i.e. children aged under 18 or under 22 if undergoing full-time education or vocational training) a pension will be paid equal to 12.5% of the Fund pension being paid to you at the date of death, ignoring any reduction if you had exchanged part of your pension for a cash lump sum when you retired, to each child, up to a maximum of four dependent children.

Example:

Fund pension at date of death              €28,000 pa
Member exchanged part of Fund 
pension for a cash lump sum at time
of retirement and, ignoring this, 
pension would have been                      €32,000 pa
Spouse’s pension from Fund                  50% of €32,000 pa =  €16,000 pa

In addition to the benefits payable from the Fund, a State Widow’s/Widower’s Pension may also be payable.

If the member died after two years of retirement a cash lump sum of €84,000 (3 years x €28,000) would be payable in addition to the spouse’s pension of €16,000 pa.

For dependants of former members of the Fund pensioners

If you are currently receiving a dependant's pension from the Fund, there are no further benefits payable after your death.