Death in service payment.

[Lincox]

This is what it says on royalmailpensionplan,co.uk
"If you die during Reckonable Service, and you haven’t already taken any of your benefits, the following benefits will be paid:

A lump sum: This is four times your final pensionable pay.
Dependants’ pensions: These are for widows or widowers, and civil partners - or, if you’re not married or in a civil partnership, someone who was financially dependent on you. The pension is half of the pension you would have been entitled to for ill health retirement. Pensions can also be paid to your children, usually until they turn 18.
It’s very important that you confirm who you would like to get any benefits when you die. There are different forms for you to fill in:"

So it says "will be paid" it doesn't say anything about it being a discretionary payment

The money will be paid but the trustees have the discretion on whom receives the benefit. See below.


If I choose Option 2, can I be sure that the Special Trustees will give the money to the right people?
The Special Trustees have complete discretion when selecting beneficiaries but they will normally follow the wishes expressed
on your nomination form. It is important that your wishes are clear to the Special Trustees. Therefore, if your personal
circumstances change, please ensure you complete a new nomination form straight away (for example, when you marry,
divorce or separate), even if you wish to re-confirm the existing nominees. The Special Trustees may choose not to follow a
nomination and may do this if your circumstances have changed and you have not completed a new nomination form.
The Special Trustees will select one or more of any of the persons listed above to receive the death benefit, if you do not make
a nomination at all or if they do not follow your nomination. The Special Trustees will consider any subsequent will you have
written. Also, Court Orders can affect death benefit paymen

[graysboy]

Again messaged Moya Greene regarding this but still no response. told it is down to the trustees & that is final ? So where were they when Josie was told she had Cancer, told it was terminal, was admitted to St Lukes Hospice, I don't recall them holding her hand as she died. How is it that they are all of a sudden experts in my family ? I will always fight for what I think is right but this corporate masturbation is making me ill. Hate to say so but they are winning.

[Lincox]

Graysboy, you said that your wife completed a nomination form. Now there are two separate forms. One for the actual pension benefits, and one for the death in service benefits. You say that the benefit not paid is the death in service benefit. Have you received any entitlement from the pension benefits. ie A widowers pension

[graysboy]

I have again contacted Pensions & have again been told that the Trustees are to decide the recipients of this fund without knowing family history or relationships ! Ther are showing no regard for myself or my family.

[graysboy]

Graysboy, you said that your wife completed a nomination form. Now there are two separate forms. One for the actual pension benefits, and one for the death in service benefits. You say that the benefit not paid is the death in service benefit. Have you received any entitlement from the pension benefits. ie A widowers pension

I should get a pension payment this week.

[postmanzach]

Never had given it much thought but getting on abit now, and paying in extra I thought best name someone incase I don’t make it to pension age. Trouble is I’m divorced, I have 2 kids. I’d want my sister that’s an accountant to have it invest/look after until the kids are 21 or something but it says they must be a dependent. And only one person.
What would you do?

[postslippete]

Never had given it much thought but getting on abit now, and paying in extra I thought best name someone incase I don’t make it to pension age. Trouble is I’m divorced, I have 2 kids. I’d want my sister that’s an accountant to have it invest/look after until the kids are 21 or something but it says they must be a dependent. And only one person.
What would you do?

If it were me I would ring the pension people directly because I think you're mixing up the beneficiary and trustee/executor roles. The pension form appears mainly concerned with who benefits not who administers money for minors. Your kids sound like the obvious dependants but your sister being the accountant and someone you trust is a separate issue - thats more about who helps manage things if the kids are young.

The wording says the trustee considers your wishes but isn't bound by them, so I would deffo complete the dependants section and make your wishes crystal clear. If your kids are under 18 or 21 I would also consider getting proper advice or update your will. A pension expression-of-wish form and a will aren't necessarily the same thing.

And the last thing I would do is leave it untouched thinking that they will sort it. Families and money after someone dies can often get messy very quickly. Leaving nothing completed could create exactly the uncertainty the trustee wording warns about.

[postmanzach]

Never had given it much thought but getting on abit now, and paying in extra I thought best name someone incase I don’t make it to pension age. Trouble is I’m divorced, I have 2 kids. I’d want my sister that’s an accountant to have it invest/look after until the kids are 21 or something but it says they must be a dependent. And only one person.
What would you do?

If it were me I would ring the pension people directly because I think you're mixing up the beneficiary and trustee/executor roles. The pension form appears mainly concerned with who benefits not who administers money for minors. Your kids sound like the obvious dependants but your sister being the accountant and someone you trust is a separate issue - thats more about who helps manage things if the kids are young.

The wording says the trustee considers your wishes but isn't bound by them, so I would deffo complete the dependants section and make your wishes crystal clear. If your kids are under 18 or 21 I would also consider getting proper advice or update your will. A pension expression-of-wish form and a will aren't necessarily the same thing.

And the last thing I would do is leave it untouched thinking that they will sort it. Families and money after someone dies can often get messy very quickly. Leaving nothing completed could create exactly the uncertainty the trustee wording warns about.

Thanks for the reply, wasn’t expecting one so quick and well detailed. I haven’t got a will. Should probably get that done but with no real savings other than pension and small equity on my shared ownership i haven’t got around to it yet. Cwu offer free will service don’t they?

[yellowbelly]

Thanks for the reply, wasn’t expecting one so quick and well detailed. I haven’t got a will. Should probably get that done but with no real savings other than pension and small equity on my shared ownership i haven’t got around to it yet. Cwu offer free will service don’t they?

Union Line offer a service through CWU - depends how complicated it is whether it'll be free or not according to the blurb:


https://www.cwu.org/unionline/other-leg ... ces/wills/

[Sean06]

Thanks for the reply, wasn’t expecting one so quick and well detailed. I haven’t got a will. Should probably get that done but with no real savings other than pension and small equity on my shared ownership i haven’t got around to it yet. Cwu offer free will service don’t they?

Union Line offer a service through CWU - depends how complicated it is whether it'll be free or not according to the blurb:


https://www.cwu.org/unionline/other-leg ... ces/wills/

Made my own will a few months ago.just ask your rep who cwu solicitor is in your area completely free.

[RobertT]

There's quite a few RM pensions and they all have their own death nomination forms, specific to the benefits they provide. So make sure you fill out all that apply to you.

There's five:

RM Statutory Pension Scheme
RM Pension Plan
RM Defined Contribution Plan
RM Collective Pension Plan
Nest