What happens if I die before I retire from BT?
If you die before you retire, Standard Life will pay out the full value of your pension savings within the BTRSS in a lump sum. However, if any part of the lump sum exceeds the Lifetime Allowance, it will be subject to tax at 55%.
It is important to let us know who you would like to receive any death in service benefits payable under the BTRSS by completing the Instruction for Payment on Death Benefits form.
Any reference to legislation and taxation is based on Standard Life's understanding of law and HMRC practice at May 2010. Tax and legislation are liable to change in the future
BT Life Assurance Scheme (BTLAS)
In addition to the death benefits available under the BTRSS, we are advised that BT will also provide death in service benefits through the BT Life Assurance Scheme (BTLAS). The BTLAS is managed and operated directly by BT. You can let BT know who you would like to receive any BTLAS death in service benefits by completing the BTLAS Expression of Wish Form. The completion and return of a BTLAS Expression of Wish Form does not form any contract with Standard Life and your employer is responsible for this form and for making any application for benefits under the BTLAS on your behalf
