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PART 7Benefits for pension credit members

CHAPTER 3Death grant

Death grant: death of pension credit member after benefits payable

156.—(1) A death grant is payable under this regulation on the death of a pension credit member (D) if—

(a)a pension credit retirement pension became payable before D’s death; and

(b)AR is greater than AP.

(2) The amount of the death grant is AR-AP.

(3) In this regulation—

“AR” is 5 times the annual rate of the pension credit retirement pension payable as at the date of D’s death;

“AP” is the total amount of that pension payable up until D’s death.