Paragraph E.19 Amount of lump sum benefit under rule E.15: pension credit members

In the case of a pension credit member who dies before any benefits derived from his pension credit have become payable, the amount of the lump sum payable under rule E.15 (death of a member: lump sum benefit) is calculated by multiplying by 3 the amount of the annual pension that would have been payable to him under rule D.3 if that pension had become payable to him on the date of his death.

In the case of a pension credit member who dies after the pension under rule D.3 becomes payable, the amount of the lump sum payable under rule E.15 (death of a member: lump sum benefit) is equal to—

where—

• A is the amount of the pension that would have been payable to the member during so much of the period of five years beginning with the date on which the pension became payable as falls after the date of death, and

• B is the amount of any lump sum paid to the member under rule D.3 or D.4.

Any increases in the pension which might have become payable after the date of death are disregarded for the purposes of paragraph (2).