What if I die before I start receiving my pension?

Should you die before you start receiving your pension, the Fund may pay Dependant’s pensions to your loved ones.

Please refer to the Statement you received, when you became a Deferred member, for information on the actual level of Dependant’s pension payable.

What if I die after I start receiving my pension?

Once you start receiving your pension, your loved ones are still protected should you die. The actual pension(s) payable will be a proportion of the pension you were receiving. More details will be included within your retirement pack.

In addition, if you’ve been receiving your pension for less than five years, then a lump sum will also be payable. This will be equal to your first five years pension payments, less what you’ve already received.

Who can receive benefits from the Fund?

Pensions can be paid to Qualifying Dependents. This will normally be your husband, wife, registered civil partner or a partner with whom you were financially interdependent, or who was financially dependent on you. However, if you were a Nationwide Final Salary member who joined the Fund before 1 September 1998, any spouse to whom you were married on 31 August 1998 and at the date of your death will automatically be your qualifying dependant.

Pensions can also be paid to your natural, step, or adopted children who are either under age 18 or under age 23 and in full-time education.

What about my AVCs?

Whilst an Active Member, you had three AVC options. You could choose to make Additional Contributions through:

1. Pension Credits;
2. Investment Funds;
3. Nationwide Group Personal Pension.

If you chose one of the other options, benefits may be payable to your loved ones following your death. Please refer to the Statements you receive relating to your AVCs for more information.