Dependants’ death in service pension modelling

Better informed decisions for the move to lump sum settlement

Dependents’ death in service pensions, which pay a percentage of an employee’s final salary to their dependents until their death, can create a significant financial drain on companies.

We can advise on the creation of an alternative one-off lump sum payment offer (in lieu of a monthly pension) and help in establishing what represents a fair payment to both sides. We do this by calculating the true lifetime value of the pension in terms of salary multiple to create a benchmark against which to measure any potential design change.

This ‘benefit neutral’ approach allows you to demonstrate due diligence when consulting with employees and can also help to win the consent of Trustees.

As market conditions are constantly evolving, regular reviews can also ensure the payment levels remain fair and fit for purpose.

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