Make your Nestlé pension
work for you.

Death benefits

As a member of the Fund you’ll receive valuable benefits for your family if you die:
  • while still working for Nestlé;
  • after you leave the Fund, but before you retire;
  • after you have retired.

Death in service

DC Core

If you die while working for Nestlé, your dependants would receive the following benefits:

  • Lump sum of 6 x Pay in the past 12 months;
  • The value of your DC account will be payable from the Fund as a tax-free lump sum. The Trustees will have discretion to decide who to make the payment to and will take into consideration any nomination forms you have provided.

If you have additionally built up any DB pension in the Fund either before or after 1 August 2017, spouse’s, dependants and/or childrens pensions would be payable in respect of the DB benefits you had built up. See the relevant sections for more information.

DC Start

If you die while working for Nestlé, your dependants would receive the following benefits:

  • Lump sum of 2 x Pay in the past 12 months;
  • The value of your DC account will be payable from the Fund as a tax-free lump sum. The Trustees will have discretion to decide who to make the payment to and will take into consideration any nomination forms you have provided to the Trustees of the Fund.

The death-in-service lump sum benefits are paid from the Nestlé UK Group Life Scheme, which is separate to the Fund. All other benefits are payable from the Fund.

Please note that if you have built up benefits in more than one section, the benefits payable will be made up of a combination of the benefits built up in each section. If you are not a member of the Fund and die whilst working for Nestlé, your beneficiaries would receive a lump sum of 2 x your Pay in the past 12 months.

Death in deferment

If you die after leaving Nestlé or opting out of the Fund, but before you start to take your deferred pension, the Fund will provide benefits for your dependants. To help the Trustee make a decision as to who should receive any lump sum, you should keep your Nomination Form up to date.

To help the Trustee make a decision as to who should receive any lump sum, you should keep your Nomination Form up to date.

If you have a DC Core or DC Start account (including DC Core AVCs), your nominated beneficiaries will be eligible to receive:

  • The value of the investment units bought with your contributions to DC Start or DC Core (main pension); and/or
  • The value of any DC Core AVC fund.
Death in retirement

If you use your DC account to buy a pension at retirement, you can choose from a range of benefits to provide security for your dependants when you die - see Buying a pension

These benefits would be paid in addition to any benefits you built up before 1 August 2017.