Lump sum

The death-in-service lump sum payable would be equal to four years' (non-capped) Salary in the last year of your employment.

For example

Salary = £20,000

Lump sum death benefit = £80,000

• For GO21 members – the death-in-service lump sum would be based on 4 x (non-capped) Protected Pensionable Salary.
• The lump sum is at the discretion of the Trustee, who will take into account the person or people you have nominated on your Letter of Intent form.
• This means the lump sum usually isn’t subject to Inheritance Tax and it can be paid without delay.