Death Benefits

We can pay benefits to a member's beneficiaries in the event of their death. However, the benefits that are available (and their tax treatment) depend upon whether:

1. The member dies before they had taken their benefits (ie uncrystallised).

2. The member dies after they have taken benefits while drawing an income through unsecured pension (ie they are under age 75 - changing to age 77).

3. The member dies while drawing an income through alternatively secured pension (ie they are over age 75 - changing to age 77).

4. The member dies while drawing an income through scheme pension.

These four different scenarios are covered in the following pages.

If a member has taken benefits from only part of their fund (partial or phased drawdown) at the time of their death then the two funds will be treated differently for death benefit purposes.