My spouse or partner gets
Final Salary
Lump sum
If you die while still working at BA
- The Lump sum is broadly three times your Pensionable pay at the time of
your death plus the value of Additional Voluntary Contributions (AVCs).
Put more on top of my BA pension - Plus (if no Spouse or partner pension is payable) your own contributions, with interest at 3.5% per year up to the date of death.
If you die after leaving BA or within 5 years after retirement
- A Lump sum may be paid if no spouse or partner pension is payable. The Lump sum is broadly the difference between benefits you have received, if any, and your contributions plus interest.
- The Lump sum is free of Inheritance Tax.
The Lump sum doesn't have to be paid to your spouse or partner. By completing a Notice of Wish form, you can ask the Trustees to consider at their discretion another person or cause of your choice.
Spouse or partner pension
The basic pension package includes cover for your spouse or partner when you die. Unless you have written to BA Pensions and asked not to pay for cover for your spouse/partner, they will receive:
- If you die while still working at BA, a pension of two-thirds of your basic pension worked out using the years, months and days that you have paid for spouse's cover, plus any Spouse or partner pension that you have transferred in, plus half the time remaining between the date of your death and your selected Normal retirement age (Option 55 elections are ignored for the purposes of this calculation)
- If you have a deferred pension or die after you have retired, the spouse or partner pension will not include the extra half time remaining to your selected Normal retirement age.
- The spouse's or partner's pension is payable for life.
- Remember if you work part time we use your full time equivalent salary and your part time service in the Basic pension calculation.
If your spouse or partner is more than ten years younger than you, the pension is reduced, broadly by 1.25% for each complete year by which the age difference exceeds ten years. For example, the pension would be reduced by 3.75% if your spouse or partner is 13 years younger than you.
BAMPS
Lump sum
If you die while still working at BA, your spouse or partner will receive a Lump sum.
- The Lump sum is broadly three times your Pensionable pay at the time of your death plus the value of any additional voluntary contributions.
- Plus the amount of your individual BAMPS retirement account.
- The Lump sum doesn't have to be paid to your spouse or partner. By
completing a Notice of Wish form, you can ask the Trustees to consider,
at their discretion, another person or cause of your choice.
Notice of Wish form
If you have left BA and are a deferred BAMPS member when you die, your spouse or partner will receive a Lump sum equal to the value of your individual retirement account and any additional voluntary contributions.
If you die in retirement, your spouse or partner will receive any death benefits you arranged when you retired.
Additional voluntary contributions (AVCs)
If you die while still working at BA, the value of your AVC account will be refunded to your spouse, partner or other beneficiary.
If you die in retirement, what your spouse or partner receive will depend on the type of pension you have bought with your AVC account.
If you die in retirement but have deferred your AVCs, your AVC fund can be used to provide spouse or civil partner benefits through an insurance company of their choice or will be paid to your estate less a deduction for tax.