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9.
PAYMENT OF DEATH BENEFITS
It is important that you know who may receive any cash lump sum payable in the event of
your death. The Scheme rules contain a provision giving discretion to the Trustees regarding
the distribution of any lump sum death benefit on your death. This has the advantage of
making the lump sum death benefit free from inheritance tax.
The beneficiaries can be:
your Partner;
any person who was formerly your Partner;
your relatives including your children, parents, siblings, step-children and adopted
children;
your Partner’s relatives, including their children, parents, siblings, step-children and
adopted children
the descendants of your relatives or of your Partner’s relatives;
any other person whose name you have notified to the Trustees in writing prior to your
death as being a person you wish the Trustees to consider as a possible recipient of the
benefit;
any other person who in the opinion of the Trustees was dependent upon you;
the personal representatives who manage your estate after your death (provided that you
did not die in circumstances where your estate would be paid to the Crown);
any person entitled to benefit from your estate under your will or, if you did not make a
will, under the intestacy laws (again, provided that you did not die in circumstances
where your estate would be paid to the Crown).
Whilst the Trustees have ultimate discretion as to whom these benefits are distributed to, you
may wish to give them some guidance by completing the death benefit nomination form in
the back of this booklet.
You may revise this guidance at any time. Indeed the Trustees encourage you to review your
nomination form regularly to reflect changes in your personal circumstances.
You should keep a record of your nominees for future reference.