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 Adult Survivor's 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 Adult Survivor's 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, partner or surviving dependant. By completing a Notice of Wish form, you can ask the Trustees to consider at their discretion another person or cause of your choice.
Adult Survivor's pension
The basic pension from the Final Salary Scheme includes a pension for your spouse or civil partner when you die unless you have chosen not to pay for this cover. If you are single when you die, this pension may be payable, at the discretion of the Trustees, to a Surviving Dependant whom the Trustees consider to meet the criteria of a Pensionable Dependant (this could be a common-law spouse, partner, or someone who is financially dependent on you to a substantial extent). Detailed information and Surviving Dependant Registration forms are available on the Forms page.
- 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 Adult Survivor's 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 Adult Survivor's 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.
[+] Am I paying for Adult Survivor’s Pension cover?
[+] How do I start paying for Adult Survivor's Pension cover?
[+] I want to stop paying for Adult Survivor's Pension cover
[+] Can I backdate Adult Survivor’s Pension cover?