What happens when I die? LGPS

CashFlowCaptain

I’m 58 married man and need to start planning end of life scenarios as I have no will in place etc. 

I have a 40 yr LGPS and although I Googled I am still unclear on what happens to my pension in these situations:

1. If I am still working and paying into my pension when I die. 
2. If I am retired before state pension age and accessing my LGPS when I die. 

Thanks for any advice. 

Aylesbury_Duck

Check with your specific scheme provider, but for 1) there would be a death in service sum of 3x pensionable pay, plus a widow's pension made up of a percentage of what your pension would have been.  For 2) I think it's solely the widow's pension.

All the guidance for this will be on your LGPS portal.

Silvertabby

As above, but for 2) there MAY be an additional tax free death grant payable to your nominated beneficiary (ies).

The death grant would be payable if you were to die within 10 years of starting to draw your pension, and would be 10 X annual pension minus pension already paid.

Children's pensions, if applicable, would be paid to age 18 - or 23 if still in full time education.

GunJack

...and you and spouse really should get wills done asap - yes the other stuff is important but having wills (often mirror wills*) is probably the single most important part of your EOL planning.

*Mirror wills, basically each of you leaving everything to the other on the first death.