Death Benefits

On your death, your surviving spouse may receive the entire remaining fund (i.e. the funds which have not yet been encashed to provide tax-free cash, an annuity or USP), with no taxes imposed and normally free of Inheritance Tax.

In addition to any remaining fund in your Phased Retirement plan, your spouse or other beneficiaries may also receive income, and possibly a lump sum, from any annuities and USP investments you have bought up to the time of your death.