My pension when I die
Death might not be something you like to think about, but it's important you understand what will happen to your pension when you die, and what you can do to make sure your money goes to the right place.
The Trustee has ultimate responsibility for deciding who receives a lump sum death benefit. To help make this decision, the Trustee will consider your personal circumstances and all your potential beneficiaries.
In line with the Scheme rules, your potential beneficiaries may include:
The amount paid out will depend on how much you have taken from your pension, including any lump sum you took at the start.
If you have been getting your pension for 5 years or more when you die, it’s unlikely that any lump sum would be paid.
The Scheme rules set out who a dependants’ pension will be paid to. The rules say that a regular pension may be paid to the following:
If you started taking your pension within the last five years, your death benefits may include a lump sum, which is paid out when you die.
You can let the Trustee know who you'd like the lump sum to be paid to by making a nomination. This could help speed up the process of paying the lump sum, and avoid your loved ones having to pay tax. You can make or update your nominations any time by logging in to your myRPS account.
All nominations are confidential and your beneficiaries will not be told that you have added or removed them.
Please remember that a will doesn’t cover your pension savings. The only way to leave direct instructions for what you want to happen to your pension money is to nominate.
For more information about nominations and who they can include, visit the nominations for death benefits page.
When you die, it may be up to your family or friends to report your death to the Scheme administrator, Railpen, or to your employer if you're still working. They need to do this as soon as possible, so we can stop your pension payments quickly. Otherwise, your beneficiaries may be asked to pay it back later.
Please make sure those close to you know where to find the information.