The level of death benefits payable will be different depending upon whether you were employed or you had left the employment of the Company, at the time of your death.
Unless certain restrictions apply if you die while you are employed and a member of the DC Section, the following benefits could be payable:
A lump sum payment of four times your Pensionable Pay
A lump sum payment of the value of your Personal Account which relates to your personal contributions or Pensions Plus contributions (Employer Credits and Matching Employer Credits are not refundable); and
A pension for your Spouse, Civil Partner/same sex spouse or Dependant(s).
If you joined the DC Section after taking flexible retirement from one of the Prudential Group’s defined benefit schemes your death in Service benefits are different from those quoted above.
If you should die, whilst you are a Deferred member, a lump sum death benefit equal to the value of your Personal Account will become payable.
If you have opted out or have elected to be treated as having never joined the DC Section, you will still be entitled to some death in Service benefits unless you have elected not to be treated as a death benefit member. In the event of death while in employment, a lump sum death benefit of four times your Pensionable Pay will become payable, plus a return of the value of your Personal Account (if any).
The benefits payable on your death (including whether a Spouse's, Civil Partner's or Dependent's pension is payable) will depend upon the choices you made when you retired.
All lump sum death benefits and pensions are payable at the discretion of the Trustee. Consideration will be given to anyone that you have nominated as a beneficiary in an 'Expression of Wish Form'. You should consider periodically providing an updated Expression of Wish Form, especially if your personal circumstances change.