Death in retirement – Defined Benefit Schemes

If you die within five years of taking your pension

Whenever your pension starts, it is guaranteed for five years. This means if you die within five years of your pension starting (as long as you’re still under 75) a lump sum will be paid, subject to certain conditions. This lump sum will be equal to the balance of the remaining guaranteed pension instalments (disregarding any increases) and will be paid at the Trustee’s discretion.

If you die after five years of taking your pension

Lump sum and spouse’s pensions.

If you die after accessing your pension and are married (or have a civil partner), your spouse will receive a pension (as long as you’re not separated or living apart when you die). If you’re not married or in a civil partnership but in a relationship which closely resembles marriage (and there’s financial dependency or interdependency) your partner will generally be entitled to the above – however, there may be differences, particularly if there’s also a spouse or civil partner with whom you’re not living with when you die.

Children’s and dependants’ pensions

Dependent children will receive a pension until they are 18 (or 23 if they’re in full-time education or training approved by the Trustee).

Children’s, dependants’ and spouse’s pensions increase at the same level as the member’s retirement pensions.

Nomination form

You should complete a nomination form to let the Trustee know how you’d like your death benefits to be distributed, you can do this on Pension self-service available through Clarity from BW, or PLPS Member site for Willis Towers Watson.

Death in retirement – DC Section

If you selected an annuity when you retired, you would have had the option to provide a pension for your spouse/dependant(s) in the event of your death in retirement. More information will be provided by your annuity provider.

If you did not select an annuity, please contact your scheme administrator, visit Contact us