The Health and Social Care Pension Scheme Regulations (Northern Ireland) 2015

Death of pension credit member N.I.

8.—(1) A lump sum on death is payable under this paragraph in respect of the death of a pension credit member.

(2) Paragraph (1) does not apply if—

(a) the pension credit member dies after benefits attributable to the pension credit have become payable; and

(b) the death occurs more than five years after the member's pension becomes payable.

(3) If the pension credit member dies before benefits derived from the credit have become payable, the amount of the lump sum is equal to 2.025 times the amount of the annual pension to which the pension credit member would have been entitled under regulation 75 if the member had reached whichever is the later of 65 or state pension age on the date of death.

(4) If the pension credit member dies after a pension under regulation 75 has become payable, the amount of the lump sum is equal to the lesser of amount A and amount B minus any lump sum paid to the pension credit member when the pension came into payment as a result of the member exercising the option under regulation 76.

(5) For the purposes of sub-paragraph (4)—

(a) amount A is an amount which is five times the annual amount of pension payable to the member F1 ..., less the amount of the pension payments already made to the member;

(b) amount B is the amount which is the higher of—

(i) twice the pension debit member's re-valued pensionable earnings for the period of 12 months ending on the valuation day; and

(ii) twice the pension debit member's re-valued pensionable earnings for the scheme year falling in the earnings reference period which has the largest re-valued pensionable earnings.

(6) In this paragraph—

F2 ...

F2 ...

“valuation day” means the day referred to in Article 26(7) of the 1999 Order.

Textual Amendments

F1 Words in Sch. 12 para. 8(5)(a) omitted (with effect in accordance with reg. 1(8) of the amending Rule) by virtue of The Health and Social Care Pension Schemes, Additional Voluntary Contributions and Injury Benefits (Amendment) Regulations (Northern Ireland) 2022 (S.R. 2022/196), regs. 1(2), 67(a)

F2 Words in Sch. 12 para. 8(6) omitted (with effect in accordance with reg. 1(8) of the amending Rule) by virtue of The Health and Social Care Pension Schemes, Additional Voluntary Contributions and Injury Benefits (Amendment) Regulations (Northern Ireland) 2022 (S.R. 2022/196), regs. 1(2), 67(b)