Death benefits | Save for your pension | Home

When you die, your pension pot will normally be paid as a lump sum.

You can tell us who you'd like your money to go to. In certain circumstances, the Trustees might use your pension pot to provide pensions for one or more of your dependants. Dependants are people who rely on you financially such as children or partners. The Trustees don't always have to pay your money to the person or people you've named, but in most cases, they will.

Remember to update the names you've given us whenever your circumstances change - like if you get married or have a child.

Tell us who you'd like your money to go to

Lump sums paid from your pension.

If you die before the age of 75

Lump sums paid out after your death will normally be tax-free if you die before age 75 and they are paid within 2 years of your death. This is currently being reviewed and is expected to change from April 2027.

Under UK law there is a limit on the total amount of money that can be paid from your pension tax free. Any tax-free lump sums paid after your death may be restricted if you have already started to take money from your pension pot.

If this happens, the person who receives your pension after you have died will have to pay tax on some or all of the lump sum, depending on how much of your allowance you have already used.

Read about pensions and tax allowances

Life cover

You get core life cover for free. This will pay out a lump sum of cash if you die while working for Unilever. It’s worth 4 times the value of your annual pensionable earnings on the date of your death. Your pensionable earnings are your basic pay and, for some people, other allowances. This benefit is provided by the Fund.

During Annual Renewal, you can use your pay to buy extra life cover, up to a total of 8 times your pensionable earnings.

Find out more about life cover