Death in service

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If you joined the Plan before 1st March 2013 and you die in service, those you leave behind will receive:

 

  • A lump sum of 3x your basic salary
  • A dependant's pension of 30% of your basic salary

 

Please note, your employer funded Lump sum reduces to 2x cover and you will lose your dependants pension benefit entitlement under the following two scenarios:

 

  • If you stop paying contributions, but are still employed by Telefónica, even if you re-join the Plan or are auto-enrolled at a later date 
  • If you joined the Plan before 1 April 2012 but after your first 12 months of employment with Telefónica.

 

If you joined the Plan after 1st March 2013, please see the auto-enrolled member tab for further details. You will also lose the ability to apply for any future Income Protection benefit by opting out of the Plan.

 

Did you know you can update your Expression of Wish form at any point?

 

An Expression of Wish Form allows you to inform the Pension’s Trustees how you would like any lump sum death benefit to be paid in the event of your death. Your Expression of Wish continues until you submit any updated Expression of Wish form. We would always suggest keeping your Expression of Wish form up-to-date, especially if you have a change of circumstances.

 

By updating your Expression of Wish Form today you can have the peace of mind that your dependents will have a more secure future. To update your Expression of Wish form, please click here.

If you die in service, those you leave behind will receive:

 

  • A lump sum of 4x pensionable pay
  • A dependant's pension of 30% of your pensionable pay
  • A dependant's pension of 50% of your deferred final salary pension

 

You'll be covered for this level of life assurance whether you're putting anything into your pension or not. If you're not, you'll be a life assurance only member. Please note you will lose the ability to apply for any future Income Protection benefit by opting out of the Plan.

 

Did you know you can update your Expression of Wish form at any point?

 

An Expression of Wish Form allows you to inform the Pension’s Trustees how you would like any lump sum death benefit to be paid in the event of your death. Your Expression of Wish continues until you submit any updated Expression of Wish form. We would always suggest keeping your Expression of Wish form up-to-date, especially if you have a change of circumstances.

 

By updating your Expression of Wish Form today you can have the peace of mind that your dependents will have a more secure future. To update your Expression of Wish form, please click here.

If you die in service, those you leave behind will receive:

 

  • A lump sum of 5x your basic salary (the 5x cover is an insured benefit funded by the employer if you remain an active contributing member of the Plan).

 

Please note if you opt-out of the Pension Plan or stop making contributions at any point your employer funded lump sum cover will reduce to 2x your basic salary, regardless of whether you re-join the Plan in future. You will also lose the ability to apply for any future Income Protection benefit by opting out of the Plan.

 

Did you know you can update your Expression of Wish form at any point?

 

An Expression of Wish Form allows you to inform the Pension’s Trustees how you would like any lump sum death benefit to be paid in the event of your death. Your Expression of Wish continues until you submit any updated Expression of Wish form. We would always suggest keeping your Expression of Wish form up-to-date, especially if you have a change of circumstances.

 

By updating your Expression of Wish Form today you can have the peace of mind that your dependents will have a more secure future. To update your Expression of Wish form, please click here.