In the unfortunate event of your death, it’s important to know what will happen to your NRDC pension benefits when you die.
Whilst you are paying into NRDC, you get life cover to help take care of your loved ones once you’re gone.
A lump sum equal to four times your annual Pensionable Salary is payable, as well as a lump sum of the value of your NRDC Personal Retirement Account (PRA).
Unfortunately there are no spouses or dependants pension payable.
If you are no longer paying in to NRDC but you have retained your NRDC benefits in the scheme, a lump sum of the value of your PRA is payable upon your death.
Unfortunately there are no spouses or dependants pension payable.
A summary of the above can be found below:
What if I’ve already retired?
If you have already claimed your NRDC pension benefits as a cash lump sum, purchased an annuity from a different provider or transferred your NRDC benefits to a Flexible Drawdown provider, you are no longer considered an NRDC member. Therefore there are no death benefits to be paid from the NRDC pension scheme.
If you have purchased an annuity or transferred your NRDC benefits to a Flexible Drawdown provider, your spouse or dependants may be entitled to benefits if the annuity you purchased included this option. You will need to contact the annuity provider/Flexible Drawdown provider to get this information.
Expression of Wish
It is really important that you tell us who you would like the Trustee to pay any lump sum death benefits to in the event of your death.
You can update your Expression of Wish Form electronically in your online NRDC Member Account.
Please note, Expression of Wish Forms completed before February 2021 are not held electronically so will not show in your online NRDC Member Account.