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Life events

Moving house

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Mercer will want to send you information about the Fund from time and time, and they will also send you an annual payslip and P60 (tax statement). It’s therefore important they have your current contact details. If you need to change your contact details, the easiest way to do this is through Mercer OneView, our secure online portal, but you can also call the team on 0330 1027570.

Divorce

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If you’re getting divorced, you will probably be asked to provide details of your pension benefits, so they can be shared with your spouse or civil partner. If you are in England, Wales or Northern Ireland, your pension is valued at the date of divorce or dissolution. If you are in Scotland, your pension must be valued on the ‘date of separation’ and only the value that has been built up during your marriage or civil partnership is taken into account. 

MoneyHelper (a government service that provides free guidance on money, pensions and debt) offers a dedicated appointment service for pension scheme members who are going through divorce or dissolution, to help them understand the options for their retirement benefits. Or you can read their guide here.

Death

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If you die within five years of your pension payments starting, a lump sum is paid to your beneficiaries that is equal to the value of the payments that would have been made during that five-year period (not including pension increases), had you not died.

Your surviving spouse or civil partner will also receive a pension, equal to 50% of your pre-commutation pension (that is, the pension you would have received had you not exchanged any of it for a tax-free lump sum at retirement).

If your spouse is more than nine years’ younger than you, their pension will be reduced by 2.5% for each year they are more than nine years’ younger than you. So, for example, if your spouse is 12 years' younger than you, their pension would be reduced by (12-9) x 2.5% = 7.5%.

If you’re not married or in a civil partnership, you can nominate someone who is financially dependent or interdependent on you to receive the spouse’s pension. This can be done quickly and easily online via Mercer OneView. The Trustees may consider approving them to receive a spouse’s pension in the event of your death, but will require evidence of joint financial interdependency between you and your partner within six months of the date of death. Forms of acceptable evidence could be either a joint mortgage or rental agreement, an official letter or utility bill addressed to both parties at your residential address, or evidence of a joint bank account. However, please note that this will be payable at the Trustees’ discretion. A partner who is not financially dependent on a Scheme member would usually not be eligible to receive a spouse’s pension.

Please note, if a member who is in receipt of a spouse’s/dependant’s pension dies, no further benefits are payable from the Fund.

Any death benefits will be subject to the Lifetime Allowance.

If you need to tell us about a member’s death, visit the Report a death page. Once Mercer has been notified, they will start the process of paying any death benefits.

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