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121.—(1) A lump sum death benefit is payable where—
(a)an active, deferred or pensioner member of this scheme dies; or
(b)a pension credit member of this scheme dies before any benefits attributable (directly or indirectly) to a pension credit become payable.
(2) But a lump sum death benefit is not payable where—
(a)a pensioner member who is not also an active member dies more than 5 years after the member’s full retirement pension or ill-health pension becomes payable; or
(b)a member who dies had reached the age of 75.
(3) The lump sum death benefit must be paid within the period of 2 years beginning with the earlier of—
(a)the day on which the scheme manager first knew of the member’s death; and
(b)the day on which the scheme manager could reasonably be expected to have known of the member’s death.
(4) The scheme manager may decide not to pay a lump sum death benefit if it is impracticable to pay it.
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