Benefits payable on death

One of the important benefits often associated with pension arrangements is the availability of benefits payable on or after your death. These benefits are very important as they are the means by which you can make financial provision for dependants and beneficiaries.

 

The benefits payable depend on the type of type of pension scheme that you may be in and other circumstances such as whether or not you have dependants.

 

Benefits may be paid in a lump sum or could be in the form of a pension payable to dependants such as your spouse/civil partner or children.

 

You should find out about the benefits that would be paid in the event of your death. If no benefits are payable or if these would be insufficient to provide for your dependants, then you could consider taking out life assurance cover or increasing the level of benefits payable.