DEATH-IN-SERVICE BENEFITS

DC Choice offers the comfort of knowing that your dependants will have some financial security if the worst happens.

If, in the event of your death, you are an active contributing member of DC Choice and employed by the Company before reaching the age of 75, DC Choice will pay out a tax-free life assurance cash sum of six times your annual salary. The Trustee may use the money saved in your pension account to buy an annuity for your dependants or pay it out as a lump sum.

You can easily update your wishes using our online Nomination form, stating who you would like to receive this money. To protect the cash sum payment from inheritance tax, the Trustee is not bound by your wishes but will always take them into account when making its decisions. Please remember to keep this up to date, especially if your circumstances change.

If you have to leave work due to serious ill-health or an accident before you reach your Normal Retirement Age, the Company will pay a lump sum into your account. The amount will depend on whether you are expected to be prevented from doing any kind of paid work for any employer (full incapacity) or if you are unable to continue in your normal type of work long term for the Company (partial incapacity).