Deferred Members

Death in Deferment - I Plan

If you die after leaving IBM but before retirement and haven't transferred your pension benefits out of the I Plan, a pension based on 50% of your deferred pension (plus any statutory revaluation) will be payable to a spouse, civil partner or dependant (in the case of separation, the Trustee has absolute discretion over who may receive a pension).

A pension may also be paid to a Child, up to a maximum of three children.

Irrespective of whether any pensions are payable to a spouse, partner or child, a refund of your I Plan contributions and a payment equal to I Plan Smart* contributions, including interest at 3% per annum compound, is payable to your beneficiary.

The value of any ASC/AVC fund would be payable to your beneficiary.