Death benefit provision within pension schemes can be complex. This analysis focuses on death benefits both before and after retirement and the range of options available under each situation.
From 6 April 2012, the option to contract out via a defined contribution (DC) arrangement was removed. Protected rights ceased to exist, therefore, there is no longer a requirement to hold protected rights benefits separately. However, this analysis still applies to protected rights funds held by people who died prior to 6 April 2012.