The benefits that can be provided on a member’s death will depend on whether, at the time they die, the member:
- was under age 75 and had not started taking benefits from their SIPP,
- was under age 75 and had started taking benefits direct from their SIPP through income withdrawals,
- had taken their SIPP benefits by buying a Lifetime Annuity, or
- was over age 75 and still had vested funds in their SIPP providing income withdrawal as an ‘Alternatively Secured Pension’ (ASP).
The rules for Protected Rights and after age 75 in ASP are very strict.
Our 'Benefits on Death' Fact Sheet explains these rules in more detail.