MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.

17th November 2017
:: Scheme Member | Redundancy | Redundancy - Lump sum death benefits

Redundancy - Lump sum death benefits
 
As an active member of your pension scheme you may enjoy substantial life insurance cover provided by your employer. This is usually in addition to any dependants’ pension benefit payable (to a spouse, civil partner, children etc).
 
When you stop being an active member and become a preserved member following redundancy, any lump sum death benefit cover that you may be entitled to as an active member will cease - either immediately or shortly after redundancy. Any lump sum payable on your death after you have been made redundant is likely to be much lower than applied before redundancy.
 
To find out more, choose one of our free Factsheets on the right to match your category of membership.
 
 
Not sure which category of member you are? See our definitions:
 
 
 
 
 
See our Glossary for definitions of phrases in our Factsheets
       
 
 
 
 
 
  Defined Benefit scheme members
 
Redundancy - Lump sum death benefits - for Active Members of Defined Benefit Schemes
Redundancy - Lump sum death benefits - for Preserved Members of Defined Benefit Schemes
Not applicable to Pensioner members
Not applicable to Pensioner members 
       
 
  Money Purchase scheme members
 
This Factsheet is not yet available for Money Purchase members.
This Factsheet is not yet available for Money Purchase members.
 
     

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