154.—(1) A person (P) is a “death grant beneficiary” of a pension credit member if—
(a)the member has nominated P to receive a death grant or a share of a death grant on the member’s death; and
(b)at the date of the member’s death, the nomination has effect.
(2) A member may nominate P by giving written notice to the scheme manager.
(3) The nomination ceases to have effect if—
(a)the member revokes the nomination by giving written notice to the scheme manager;
(b)the member subsequently nominates a different person in place of P; or
(c)P dies.
(4) If a member nominates more than one death grant beneficiary, the notice must state—
(a)the share of the death grant to be paid to each beneficiary; and
(b)whether, if a beneficiary dies before the member, the beneficiary’s share must be paid—
(i)to the surviving beneficiaries in accordance with paragraph (5); or
(ii)to the member’s executors as part of the member’s estate.
(5) If a beneficiary’s share is to be paid to the surviving beneficiaries, it is to be paid to them in shares such that the proportion which each surviving beneficiary’s share bears to each of the other surviving beneficiaries’ shares is the same as it was in the nomination.
(6) A death grant beneficiary must be an individual.