麻豆社

For most employees a cash sum of 4 times life cover pensionable salary (Basic Pay plus London Weighting) will be payable to the beneficiaries.

The 麻豆社 provides life assurance through two schemes;

• the 麻豆社 Life Plan Group Life Scheme (the “Group Life Scheme”); and

• the 麻豆社 Pension Scheme (the “Pension Scheme”).

Which scheme an employee is covered under will depend on when their employment started and whether they are a member of the 麻豆社 Pension Scheme which closed to new joiners in November 2010.  In some circumstances life assurance is provided by both schemes at the rate of 2 times salary each.

The Trustees of the schemes have discretion over who receives the cash sum and in what proportion. You should let the Trustees know your choice of beneficiaries by completing an Expression of Wish form (see link below).  A fresh form should be submitted either via myPension Online (for 麻豆社 Pension Scheme members) or by post whenever your personal circumstances change.  

The Trustees will consider, but cannot be bound by, your wishes.

麻豆社 Pension Scheme members

Any life assurance cash sum payable from the Pension Scheme will be reduced by any other lump sum payable from the Pension Scheme upon death. You can find details of lump sums payable upon death in the relevant section of the Scheme website bbc.co.uk/myPension/current-members.

If you are in receipt of a pension from the Pension Scheme, the cash sum will also be reduced by any lump sum you received in exchanging pension (also known as commuting) when your pension started.

Lump sum limits

The lump sum and death benefit allowance (LSDBA) restricts the amount of lump sum death benefits that can be paid free of income tax from all registered pension schemes to 拢1,073,100 (unless you have a lifetime allowance protection, in which case a higher limit may apply). Further information is available at /mypension/aa-and-lta

*And employees of the following participating employers:

• 麻豆社 Children in Need
• 麻豆社 Studioworks Ltd
• 麻豆社 Global News Ltd
• 麻豆社 Studios Distribution Ltd
• 麻豆社 Studios Productions Ltd