Visit the News Section for information on how we're responding to COVID-19.
Saving We have a range of ways for you to pay extra contributions into your pension, giving you flexibility of how much you pay in and when.
Choosing my Benefits We’ll help you understand the choices you have so you can make the most of your IBM pension savings in retirement.
Information for Retirees We offer a number of lifestyle benefits, helping you to stay active and connected in retirement.
Resources This section provides access to resources to help you in your retirement journey.
You have selected: Active | Enhanced M Plan Change
Updated on 07 May 2021
The benefits paid to your beneficiaries after your death depend on the plan you were a member of. If you bought a pension with an annuity provider, the information on this page does not apply to you. Contact your pension provider directly for details.
The following may be payable:
Life assurance payment, which is a tax-free amount of 25% of your annual pension at the time you die, subject to a maximum of £1,000
If you die within 5 years of retiring, an amount equal to the balance of your pension payments up to the 5 year anniversary
Life assurance payment, which is a tax-free amount, the higher of 25% of your annual pension at the time you die or of an amount depending on your length of pensionable service, subject to a maximum of £700
If you die within 5 years of retiring, and have a surviving spouse or partner, an amount equal to the balance of your pension payments up to the 5 year anniversary, reducing to 50% after that date
If you die within 5 years of retiring, and have no dependants, an amount equal to the balance of your pension payments up to the 5 year anniversary
A pension for your spouse or civil partner (normally 50%) or for a dependant (up to 50%). The calculation is based on your pension before any cash was taken.
