What benefits might be payable?
Death might not be something you like to think about, but it is important you understand what will happen to your pension when you die, and what you can do to make sure your money goes to the right place.
There are two main elements to your death benefits, and these are outlined below.
If you leave behind a widow, widower or surviving civil partner then they will automatically receive a pension for life, from the date of your death.
This will be based on a percentage of the pension you were getting when you died, or the pension you would have gotten had you not changed it by selecting other retirement options, such as a smaller/larger lump sum.
Alternatively, the Trustees have the discretion to pay a pension to a dependant of yours instead. For this to be considered the following two conditions must be met as at the date of your death:
- you must not be legally married or in a civil partnership (even if you are estranged from your spouse or civil partner); and
- the potential beneficiary must have been financially dependent on you, or interdependent with you, immediately before your death. Supporting evidence may be required.
Even if the conditions above are met, this remains a discretionary decision for the Trustees and may not be paid. The amount of a dependant’s pension will be set by the Trustees.
If you have any children, they may also get a children’s allowance or pension.
You can find more information in your Member Guide.
A lump sum may be payable if you die within five years of your retirement.
You can find out more about how much this lump sum could be in your Member Guide.
It is important that you let the Trustees know who you would like this lump sum to be paid to by completing an Expression of Wish form.
Remember, a will does not cover your pension savings, so the only way to leave direct instructions for what you want to happen is to make an Expression of Wish.
You can learn more about this on the Expression of Wish page.
How to report a member's death
When you die, it may be up to your family or friends to report your death to your pension administrator, Broadstone. They need to do this as soon as possible, so we can stop your pension payments quickly and prevent any overpayments. Otherwise, your beneficiaries may be asked to pay them back at a later date.
Please make sure that those close to you know they will need to complete the form below. This must be returned to your pension administrator, Broadstone, using the details on the contacts page.
The person dealing with your estate will need to include any necessary documents, such as a death certificate. Originals will be returned to them by recorded delivery.
Within five working days of this information being processed, Broadstone will contact your next of kin, anyone we know may be financially dependent upon you and/or any potential beneficiaries listed in your Expression of Wish, to explain what they may be entitled to and what they need to do next.
The government's Tell Us Once service will not work for your ESPS pension, because we are not a government department. That means your next of kin, or your representatives, must contact Broadstone directly, even if they are using the Tell Us Once service for other organisations.
