Below you will find Frequently Asked Questions about Death.
A dependant’s pension is granted to an eligible spouse, partner or other dependant in their own right based upon their eligibility at the point where a member of the Scheme dies. It will continue to be paid should you subsequently remarry.
If you choose to opt-out of the KPS-MP, your death in service cover will reduce from four times salary to two times salary if you joined the Company before 30 June 2012 or one times salary if you joined the Company after 1 July 2012.
See Death Benefits for more information.
Yes you should complete a beneficiary form. You do not need to be a member of the KPS to be eligible for life assurance.
If you joined the Company before 30 June 2012 but are not an active member of the KPS-MP your beneficiaries will receive a lump sum life assurance benefit of 2 x Salary at the date of your death, if you were to die whilst working for the Company.
If you joined the Company after 1 July 2012 but are not an active member of the KPS-MP your beneficiaries will receive a lump sum life assurance benefit of 1 x Salary at the date of your death, if you were to die whilst working for the Company.
If however, you join the KPS-MP, your beneficiaries will receive a lump sum life assurance benefit of 4 x Salary at the date of your death, if you were to die whilst working for the Company.
It is therefore advisable for all employees to complete a Beneficiary form, and keep it up to date.
In the event of your death whilst still employed by the Company, a lump sum of 2 x Salary at date of death would be payable.
In the event of your death whilst still employed by the Company, a lump sum of 1 x Salary at date of death would be payable.
If you are a final salary pensioner, then in the event of your death your wife would receive a dependant’s pension.
This is normally half of your pension. However if you would like confirmation of the amount please email or write to Group Pension Department.
If you are a money purchase pensioner, then this depends on the type of annuity you chose at retirement. Please contact your annuity provider for further information.
