Your Pension - Your Future
Death benefits
No one likes thinking about what may happen after they die, but it's important you know what benefits may become due. Should the worst happen, the Trustee will know who you would like to receive any death benefits. You can fill in a nomination form to let the Trustee know who you would lie to receive these benefits if you die.
The Scheme provides benefits in the event of death in service, and the benefits depend on when you joined the Scheme.
If you were a Scheme member on or before 31 December 2015 the benefits are as follows:
- Lump sum of 4 times pensionable salary
- Dependants’ (spouse/partner and children's) pensions. This will include any death benefits for service up to March 2007 if you joined the Scheme before then
- The return of the value of your ZCashBuilder fund (including notional contributions in respect of any period of ZPensionBuilder/final salary service)
If you joined the Scheme on or after 1 January 2016 the benefits are:
- Lump sum of 4 times pensionable salary
- Additional lump sum of 4 times pensionable salary if you have dependants who would have been eligible to receive the dependants’ pensions
- The return of the value of your ZCashBuilder fund
If you were a Scheme member on or before 31 December 2015 you can choose to switch to the benefits that apply to those who joined on or after 1 January 2016. You can find more information below.
If you have left Zurich and not yet taken your ZCashBuilder benefits, then in the event of your death your fund value will be paid out by the Trustee.
You can complete a nomination form that tells the Trustee who you want to receive any benefits when you die. The Trustee does not have to follow your wishes but it will still take them into account when making its decision.
Change your death benefits
If you joined before 1 January 2016, you can choose to change your death benefits using your online account - just look under the Account details tab once you’ve logged in.
Want to switch?
If you choose to switch, you will not be able to switch back unless you tell us you have changed your mind in writing within 30 days of electing to switch.
None of the information given on this website can give you legal rights or benefits that differ from those provided in the Trust Deed and Rules. In the case of uncertainty or conflict between the content on this website and the Trust Deed and Rules, the Trust Deed and Rules (as amended from time to time) will prevail.
You should consider taking independent financial advice on your options in relation to your benefits under the Scheme. Neither the Scheme Trustee (Zurich Financial Services UK Pension Trustee Limited) nor any member of the Zurich Group (i.e. Zurich Insurance Group Ltd - registered in Switzerland with number CH-020.3.023.089-6 and its direct and indirect subsidiaries) are able to provide you with financial advice or accept any liability for any decision you make with regards to your retirement options.