When you take phased retirement under the TPS, you become what is known as a dual capacity member. This is because you’re both a pensioner member and active member at the same time. As a dual capacity member, the death in service benefits available to your beneficiaries if you were to die will be impacted.
If you remain in service (you’re still working), or you’ve left teaching and have deferred benefits in the scheme, a death grant may still be paid to your beneficiaries. However, any retirement lump sum you were paid at the point you took phased retirement would be deducted from the value of your death grant.
If you die within five years of taking phased retirement, a further death grant may be available to your beneficiaries. This supplementary grant is five times the rate of your pension when you pass away, minus the amount of pension you had received before you died.
To find out more about what happens to your teachers’ pension when you die, read our comprehensive guide.