If you die before taking your pension
If you die before taking your pension, your pension can provide support to your loved ones. It is designed to offer stability and reassurance at a difficult time.
Supporting those who matter most
Following your death, your loved ones could receive:
The amount payable will depend on whether you were still contributing to the Scheme, or had stopped, at the time of your death as they are calculated differently.
A cash lump sum Show Hide
A one-off, tax-free cash lump sum is payable when you die, which the Trustee has discretion over who this is paid to. You can help guide the Trustee’s decision by completing an Expression of Wish. We recommend reviewing this frequently to ensure your wishes are kept up to date, especially if your circumstances change.
You can name more than one person or organisation, and you can even decide how the amount is split between them.
A dependant’s pension Show Hide
A pension is a regular monthly payment paid to someone who relied on you financially when you died. This could include your spouse, partner, or someone else who depended on your income, or with whom you shared finances.
Who qualifies, and how much is paid, will depend on your individual circumstances.
Spouse, civil partner, or qualifying partner
If you have a spouse or a civil partner they will automatically receive a monthly pension following your death.
If you have a qualifying partner, they will receive the same as a spouse or civil partner, however, your partner must be nominated to the Trustee in writing by completing a Nomination Form.
Adult Dependants
If you do not have a spouse, civil partner, or qualifying partner, another adult who depends on you financially may be able to receive a dependant’s pension.
This payment is decided by the Trustees and may be up to the same amount as a spouse’s pension.
To receive this benefit:
- You must not have a spouse, civil partner, or qualifying partner
- The person must have been financially dependent on you, either fully or partly, at the time of your death
Please note, if your partner remarries or sets up home with someone new, the Trustee may cease payment of the pension.
A child’s allowance Show Hide
A child’s allowance is automatically paid to dependent children up to the age of 17, or 23 if in full-time education or vocational training.
How we calculate your death benefits
Currently paying in
If you are currently an Active Member and contributing towards your MRC pension, your loved ones would receive:
Cash lump sum
This would equate to four times your pensionable salary at the time of your death.
A dependant’s pension
The amount payable depends on who is in receipt of the dependant’s pension.
If you have a:
Spouse, civil partner or qualifying partner
Your spouse, civil partner, or qualifying partner would receive a Spouse’s pension, and the amount payable would be:
- For the first three months (or six months if you have children), they will receive payments equal to your full pensionable salary.
- After that period, they will receive a pension equal to 50% of the pension you would have built up by your Normal Retirement Age, and is capped at 40 years.
- If your dependant is more than 10 years younger than you, this pension may be reduced.
An Adult Dependent
If someone else depended on you financially, the amount payable is considered by the Trustee at the time of your death and could be up to the same amount as a Spouse’s pension, however, this is not guaranteed.
A child’s pension
After the first six months, your child or children may receive a pension called a child’s allowance.
- If you have one child, they will receive 25% of the pension you would have built up by your Normal Retirement Age. If there is no spouse or qualifying adult dependant, the allowance increases to 33%.
- If you have two or more children, they will share 50% of the pension you would have built up by your Normal Retirement Age, between If there is no spouse or qualifying adult dependant, the allowance increases to 66%, shared equally.
No longer paying in
If you are currently a Deferred Member and no longer contributing towards your MRC pension, your loved ones would receive:
Cash lump sum
This would equate to five times your annual pension at the time of your death.
A dependant’s pension
The amount payable depends on who is in receipt of the dependant’s pension.
If you have a:
-
Spouse, civil partner or qualifying partner
nYour spouse, civil partner, or qualifying partner would receive a Spouse’s pension, and the amount payable would be 50% of the pension you have built up, increased by inflation since leaving service.
Please note, if your dependant is more than 10 years younger than you, this pension may be reduced.
-
An Adult Dependent
nIf someone else depended on you financially, the amount payable is considered by the Trustee at the time of your death and could be up to the same amount as a Spouse’s pension, however, this is not guaranteed.
A child’s pension
Your child or children may receive a monthly pension called a child’s allowance.
- If you have one child, they will receive 25% of the pension you would have received upon retirement. If there is no spouse or qualifying adult dependant, the allowance increases to 33%.
- If you have two or more children, they will share 50% of the pension you would have received upon retirement. If there is no spouse or qualifying adult dependant, the allowance increases to 66%, shared equally.
The amount you would have received upon retirement will be revalued in line with inflation since you left the Scheme, this will also apply to any child’s allowance.
Protecting your loved ones
You can help ensure your benefits go to the right people by keeping your forms up to date. By doing this, the Trustee can understand your wishes clearly.
To find out how to update or nominate your beneficiaries, visit Updating your beneficiaries.
FAQs
What is a qualifying partner? Show Hide
If you are not married or in a civil partnership, your partner may still qualify for a pension at the time of your death if all the following apply:
They must:
- Have been nominated by you to the Trustees in writing
- Live with you and share financial responsibilities, or depend on you financially
- Be in a committed, exclusive, long-term relationship with you
- Intend the relationship to continue indefinitely
- Be mutually responsible for each other’s welfare
- Not be closely related in a way that would prevent marriage
- Not be married to, or in a civil partnership with, anyone else
- Not be nominated as another person’s partner
- Have been in the relationship for at least two years at the time of death
Who qualifies as an adult dependent? Show Hide
An adult dependent is someone who relied on you financially, either fully or partly, at the time of your death. They do not have to be a relative.
You can name an adult dependant using a Nomination Form to help the Trustee make their decision. Final decisions are made by the Trustee.
