How we can help
If you've been told by a registered medical practitioner that you have less than 12 months to live, you may be eligible to take your full pension as a lump sum. This is known as a ‘serious ill-health lump sum’.
We’ll need written confirmation from a medical practitioner to confirm that you’re expected to have less than 12 months to live.
- If you have a Defined Contribution pension, then the payment must use all available funds, i.e. you can’t take a partial payment.
- If you have a Defined Benefit pension and it includes contracted-out rights, for example GMP or Section 9(2B) rights, any dependants or spouse benefits must be retained and can’t be claimed as a lump sum.
- If you’re under 75, the payment will be tax-free, as long as you have sufficient lump sum and death benefit allowance (LSDBA) remaining.
- If you’re over 75, the payment will be taxed as pension income. We’ll need to know how much of your LSDBA you have left before making the payment.
If you have a protection product with us, such as critical illness or life insurance, and have been diagnosed as having less than 12 months to live, then you may be eligible for a payout.
Next steps
To get things started and access your pension benefits as quickly as possible, please contact us.
We’ll then send you a pack that outlines
- your serious ill-health lump sum value
- any relevant tax information
- important things to consider
- information on where you can get more advice, and
- a breakdown of what to do next
The pack will also include a medical declaration form. We’ll need a registered medical practitioner to complete this before we can complete a serious ill-heath claim.
Power of Attorney
If you have appointed a Power of Attorney, we can work with them to process your claim. See our Power of Attorney page for more information.
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Further support
Marie Curie and support for carers
Provides clinical, practical and emotional support. Not just for those who are dying, but those caring for someone with a terminal illness too. You can call their Support Line on 0800 090 2309 or email them at support@mariecurie.org.uk
Macmillan Cancer Support
Offers support, information and an online community for those living with terminal cancer and their carers.
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