Death Benefits

If death occurs before pension commences, the fund can be paid to nominated individuals as a lump sum, less a tax charge of at least 35%, or a dependant's pension, taxed as income.

If death occurs after pension commences, the fund can be paid to nominated individuals as a lump sum, less a tax charge of at least 35% or a dependant's pension, taxed as income.

No capital will be returned direct to family if death occurs on or after age 75. Where an annuity has not been purchased, and there are no dependants, remaining capital may be paid to nominated charity, or re-distributed to other members of the scheme.