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Home/News/Teachers Pension/Death in-service – when the worst happens
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Death in-service – when the worst happens

22/05/2020 Racheal Smith

No-one likes to consider the tragedy of a life cut short. However, we have all been made of our mortality, and it is reasonable to consider what happens should the worst occur. There are benefits attached to your Teachers’ Pension, which could prove invaluable should you die while you are still in pensionable service. Here we offer some guidance about the in-service death grant and what it means for you and your relatives.

What is pensionable service?

To receive in-service benefits, you need to be in pensionable service. If you are off work on sick leave, you will still be making pension contributions for up to a year. However, if you no longer receive 50% of your salary, then you are not considered as in pensionable service.

However, if you die within 12 months of leaving pensionable service due to incapacitation, you will still receive an in-service death grant. After this time, you will benefit from an out-of-service death grant.

What does this mean for you and your relatives?

The payment of the in-service or out-of-service death grant is made to your surviving spouse or civil partner. Unless you nominate someone else to receive this money, the amount will automatically be paid to this person. If you are unmarried, you can also choose who receives your grant on the Teachers’ Pension Scheme website. You can nominate an individual, or a Trust or Charity that gets the money.

You should keep this nomination up to date. If there is no adult nominated, the grant will be paid to your estate.

If you have already taken your retirement lump sum, you will receive a grant minus the lump sum.

If you would like to learn more about this grant and how to nominate your relatives or people close to you, contact an independent financial advisor.

The content in this article was correct on 25th April 2020. You should not rely on this article to make important financial decisions. Teachers Financial Planning offers advice on the different types of retirement available with the Teachers’ Pension Scheme. Please use the contact form below to arrange an informal chat with an advisor and see how we can help you.

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Posted under: Teachers Pension

Tagged in: Death benefit, Teachers Pension Scheme



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