If you delay saving for later life you will potentially end up with a smaller Pension Pot, which means less money to live on.
As a member of the MP03 Section of the Plan, there are additional benefits should you die while you are employed by Pearson:
- A lump sum of four times your pensionable salary; and
- A spouse's, civil partner's or nominated dependant's pension; and
- Children's pensions (if applicable).
Please refer to the AE Section booklet for further information on the benefits you are eligible to receive.
In order for your beneficiaries to receive the above benefits you will need to ensure you have completed an
expression of wish form. This form lets the Trustee know who you have nominated to receive these benefits and what percentage you would like each nominee to receive.
If you are not married or in a civil partnership, the pension benefit can be paid to your nominated dependant, but you must complete a
nominated dependant form (if applicable) to let the Trustee know who you have nominated.