Protection for your family
There
are improvements to the Scheme’s benefits if you die provided you pay into the
Scheme on or after 1 April 2009.
What benefits will be paid if I die?
If you die in service as
a member of the Scheme the benefits shown below are payable.
• A widow’s, widower’s, civil partner’s or, subject to the certain qualifying
conditions, a nominated co-habiting partner’s pension equal to 1/160th of your
final pay times the total membership you would have built up in the scheme to
age 65. However, a civil partner’s pension
will be less than this if you have membership in the scheme before 6 April
1988. A
nominated co-habiting partner’s pension
will be based on membership in the scheme after 6 April
1988, unless you have paid Additional Survivor Benefit Contributions
(ASBCs) to allow earlier membership to be included in the calculations.
•
Pensions for eligible children
•
A lump sum death grant of three times annual pensionable pay. If you are
part-time, it is three times annual pensionable part-time pay.
If
you die after retiring on pension, the benefits below are payable.
• A widow’s, widower’s, civil partner’s or, subject to the certain
qualifying
conditions, a nominated co-habiting partner’s pension and pensions for
eligible
children are payable. A widow’s and widower’s pension is equal to
1/160th of
your final pay times the total membership your pension is based on
unless you
marry after retirement in which case it could be less. A civil
partner’s pension is equal to 1/160th of your final pay times your
membership
in the scheme after 5 April 1988. A
nominated co-habiting partner’s pension
will be based on membership in the scheme after 6 April
1988, unless you have paid Additional Survivor Benefit Contributions
(ASBCs) to allow earlier membership to be included in the calculations.
•
A death grant is payable if your pension has been in payment for less than 10
years and you are under age 75 at the date of death. The balance of the pension
which would have been payable for ten years is paid as a lump sum.
Death Grant Expression of Wish Form
The
Scheme allows you to say who you would like any death grant to be paid to by
completing a form. All members are strongly advised to complete a death grant
expression of wish form and to ensure that it is kept up-to-date. A new form
must be completed if marital or partnership circumstances change. Click here to download a copy of the form.
It
should be noted that under the regulations, the Committee retains absolute
discretion when deciding who to pay any death grant to. This discretion enables
the death grant normally to be paid free of inheritance tax.
Nomination of Cohabiting Partner Form
To nominate a cohabiting partner your relationship has to meet certain
conditions laid down by the Scheme. Click here to view these conditions and download a copy of
the form.
If you have nominated a cohabiting partner in line with the conditions laid down by the Scheme and have membership in the scheme prior to 6 April 1988, the survivor's pension will normally only be based on your membership after that date. However, you can make ASBCs if you wish to have your pre April 1988 membership included in survivor benefit calculations. Please ask NILGOSC for a quotation if you are interested in this option.