If you choose to opt-out of the KPS-MP, your death in service cover will reduce from four times salary to two times salary if you joined the Company before 30 June 2012 or one times salary if you joined the Company after 1 July 2012.

 

Yes you should complete a beneficiary form. You do not need to be a member of the KPS to be eligible for life assurance.

If you joined the Company before 30 June 2012 but are not an active member of the KPS-MP your beneficiaries will receive a lump sum life assurance benefit of 2 x Salary at the date of your death, if you were to die whilst working for the Company.

If you joined the Company after 1 July 2012 but are not an active member of the KPS-MP your beneficiaries will receive a lump sum life assurance benefit of 1 x Salary at the date of your death, if you were to die whilst working for the Company.

It is therefore advisable for all non members to complete this Beneficiary form, and keep it up to date.

If you are a Final Salary pensioner, then in the event of your death your spouse would normally receive a dependant's pension.  This is generally 50% of your pension.

 

You can find more information on our pages Report a death - Kingfisher Pension Scheme