British Steel Pension Scheme

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Death in Retirement

If you are receiving a pension as a result of being a contributing member the following benefits are payable:

  • Lump sum if you have been receiving your pension for less than 5 years

    When in payment, your pension is guaranteed for 5 years. If you die during this guarantee period, a lump sum is paid to your dependants or personal representatives. This lump sum is the balance of the pension instalments which would have been paid over the guarantee period. The lump sum would be based on the value of the pension in payment at date of death.
    To have your wishes taken into account it is helpful for you to have completed a Nomination Form or, if appropriate, a Will.
  • Widow/Widower’s Pension

    A pension equal to one-half of your full pension (which would have been payable before any exchange for a lump sum) taking into account any increases between the date you left the Scheme and death. This is payable for life and subject to the same annual pension increases as your pension.
  • Civil Partner’s Pension

    Details of any Civil Partner’s pension are available on request, from the Pensions Office
  • Childrens’ Allowances

    Where applicable, childrens’ allowances are also payable.

If you are in receipt of a Widow/Widower/Civil Partner’s pension or Children’s Allowance, no further benefits will be payable on death.