BGCM EC May 2017

 If you die before your pension comes into payment, the Trustees will pay a lump sum equal to five times the pension you would have received if you had retired immediately before you died.  If you die after your pension has started, but before your pension has been paid for five years, a single payment equal to the value of the unpaid balance of five years' pension payments (at the rate in payment at the date of your death), will be paid as a cash sum. The way it will be paid is set out in Section 9 of this booklet. If you die before your Normal Retirement Age, and you have a preserved pension in the Scheme, the Trustees will pay your Partner a pension. It will be equal to half of the pension that you would have received at Normal Retirement Age (but excluding the revaluation increases described above applicable to the period between the date of your death and your Normal Retirement Age).

If you have any Eligible Children when you die, the Trustees will pay them a pension as well. The amount of the pension payable will depend on how many Eligible Children you have:

 If you have a single Eligible Child, his or her pension will be equal to a Partner's pension.

 If you have two or more Eligible Children, they will share between them a pension equal to your Partner's pension

Notes

The notes in Section 8 concerning the payment of Dependants' benefits and Qualifying Children's pensions also apply to the benefits described above.

Any lump sum will be paid in according with the arrangements described in Section 9.

Transferring your benefits to another pension scheme as an alternative to a preserved pension or a refund of contributions

If you have completed at least three months Pensionable Service, you can ask the Trustees to transfer the value of your benefits to another pension arrangement. You can make this request at any time up until one year before your Normal Retirement Age, but the Trustees have a discretion to waive this requirement. If you have been paying AVCs, your AVC fund must be transferred at the same time. The amount of the transfer value is calculated by the Scheme Actuary as the value of the benefits you have accrued. It takes account of the guaranteed increases that would be added to your pension in the period before and after you retire, but it does not take account of any discretionary increases that the GFTU might add from time to time.

A transfer can be paid to:

31