Death in Deferment - C Plan
A pension of 50% of your deferred pension (plus any statutory revaluation that has been applied to your pension since you left IBM) will be payable to your spouse or civil partner if you die after leaving IBM but before retirement. If you are separated at the date of your death, the Trustee has absolute discretion over who may receive a pension.
In some instances, the Trustee will consider payment of a pension to a dependant.
A Child's pension, up to a maximum of three eligible children, will be paid and will be one-third of the amount of the spouse's pension. If no pension is paid to a spouse or partner, any children's pensions will be doubled.
If no pensions are payable to a spouse, dependant or child, any C Plan contributions and an amount equivalent to C Plan Smart* contributions, including interest, would be payable to your beneficiary.
The value of any ASC/AVC fund would be payable to your beneficiary.
Last Updated: 24/06/2009
