Cash sum (Digital members who have taken their retirement benefits)

Cash sum (Digital members who have taken their retirement benefits)

If you die within five years of retirement, the Plan will pay a cash sum. The amount will be equal to the pension payments that would have been paid in the remaining five years. However, it will be reduced by the amount of any pension payable to a surviving spouse or civil partner over the course of the remainder of that five-year period.

The amount of any cash sum will not make any allowance for any 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.