Cash sum (Bank of Ireland members who have taken their retirement benefits)

Cash sum (Bank of Ireland members who have taken their retirement benefits)

If a you were to die within five years of retirement, a lump sum may be paid. The amount will be equal to the pension payment that would have been payable for the remainder of the five-year period. However, no allowance will be made for any potential, future increases.

The Trustee decides who will receive the benefit but they will take account of your wishes. To keep the Trustee informed of your wishes, please go to the ‘nominated beneficiaries’ section of your My Work Pension account. You will find this under the ‘Your account’ menu. Alternatively, please get in touch with the Plan’s administrator, Trafalgar House, and they will be able to send you a form.