In this edition of the Learning Zone we drill down into exactly what life assurance benefits are payable under the NHS Pension Scheme and when they are likely to pay out.
Whilst you are a member of the 2015 NHS Pension Scheme and are currently in NHS pensionable service then the following benefits are payable on your death:
The higher of:
2 x the relevant earnings in the last 12 months of pensionable service
2 x the revalued pensionable earnings for the Scheme year, up to 10 years earlier, with the highest revalued pensionable earnings
Adult Survivor Pension
33.75% of the notional tier 2 Ill Health Pension if under Normal Pension Age at date of death
33.75% of the notional age pension if over Normal Pension Age at date of death
A short term 6 month pension is also payable at the rate of pensionable earnings.
16.875% of the notional tier 2 ill Health Pension
33.75% shared equally if two or more children
A short term 3 or 6 month pension is also payable at the rate of pensionable earnings.