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Death before claiming preserved benefit - diagram description

If a Member dies before claiming their Preserved Benefit and they have an eligible spouse, the payment will go directly to the spouse.
This includes:
  • The Member benefit as a lump sum
  • The employer benefit, less surcharge debt, as a lump sum (50% or more of which may be converted to a pension)
If a Member dies before claiming their Preserved Benefit and they have no eligible spouse, but does have eligible children, they will receive:
  • The Member Benefit paid as a lump sum to the benefit of the children, and
  • A pension, detailed as follows:
    • Total pension per annum payable to all eligible children (percentage of preserved employer benefit, less surcharge debt)
      • If age at death is 45, one child will receive 3.2%, two children will receive 5.7%, three children will receive 6.4% and 4 or more children will receive 7.1%
      • If age at death is 47, one child will receive 3.3%, two children will receive 5.9%, three children will receive 6.6% and 4 or more children will receive 7.4%.
      • If age at death is 49, one child will receive 3.4%, two children will receive 6.1%, three children will receive 6.8% and 4 or more children will receive 7.6%.
      • If age at death is 51, one child will receive 3.5%, two children will receive 6.3%, three children will receive 7.0% and 4 or more children will receive 7.8%.
      • If age at death is 53, one child will receive 3.6%, two children will receive 6.5 %, three children will receive 7.3% and 4 or more children will receive 8.1%.If a Member dies before claiming their Preserved Benefit and they have no eligible spouse or children, the Preserved Benefit as a lump sum, less surcharge debt, is paid to their estate.
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