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Document When a Pension Credit member dies, how will the lump sum on death be calculated?

If the Pension Credit member dies before their normal pension age and without claiming their benefits, a lump sum on death shall be payable. The lump sum on death is equal to three times the annual pension that the Pension Credit member would have been entitled to if they had not died before their normal pension age.

Note: If the Pension Credit member dies on or after their normal pension age, and without claiming their benefits, there is a posthumous award payable to their estate followed by a death on pension lump sum, payable only if the Pension Credit member dies within five years of their normal pension age (see below).
 
If the Pension Credit member dies within five years of their pension becoming payable, a lump sum equal to the lesser of 1 or 2 below may be payable:

(1) Five times their annual pension - less the amount of pension already paid, or
(2) Twice the pensionable pay at the valuation date (when the pension credit was calculated), less the total lump sum already paid.
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pension credit member dies, death benefits calculation

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