PRODUCT GUIDE
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PENSION PRODUCTS
COMPULSORY PURCHASE ANNUITIES
Death Benefits
Personal Pension Scheme
Where the member dies before the end of a guarantee period, payment of the annuity will continue at the same rate until the end of the guarantee period. Any reversionary annuity for a spouse/dependant will start at the end of the guarantee period.
Occupational Pension Scheme
Where the member dies before the end of a five year guarantee period the spouse/dependant has a choice about how benefits are paid:
Where the guarantee period is for ten years the payments must continue at the rate payable to the member for the balance of the guarantee period. Any reversionary annuity will start at the end of the guarantee period. Note that we do not offer a joint life annuity with a 10 year guarantee period.
Mortgage Products
Legacy
Disclaimer
Pension Products
Contact
Protection Products
Investment Products
General
COMPULSORY PURCHASE ANNUITIES
Personal Pension Scheme
Where the member dies before the end of a guarantee period, payment of the annuity will continue at the same rate until the end of the guarantee period. Any reversionary annuity for a spouse/dependant will start at the end of the guarantee period.
Occupational Pension Scheme
Where the member dies before the end of a five year guarantee period the spouse/dependant has a choice about how benefits are paid:
- They can choose to carry on receiving payments at the rate paid to the member for the balance of the guarantee period. Any reversionary annuity will start at the end of the guarantee period;
- They can choose to take a lump sum payment and start any reversionary annuity for the spouse/dependant. The lump sum payment would be the discounted value of the difference between the annuity payments due to the member for the remainder of the guarantee period and the reversionary annuity for the same period.
Where the guarantee period is for ten years the payments must continue at the rate payable to the member for the balance of the guarantee period. Any reversionary annuity will start at the end of the guarantee period. Note that we do not offer a joint life annuity with a 10 year guarantee period.
