As a member of the Waterfront Section of the Scheme, if you die while you are working in the maritime industry and both you and your employer are contributing to the Fund, your estate will be entitled to the total value of your members account plus an additional death benefit based on your age, contribution rate and earnings. The Trustees will pay your benefits to the person that you have named as your executor (the person to look after your estate for you). If you are leaving your benefits to a spouse or partner your executor can choose to defer payment of the benefits and arrange for your beneficiary to make withdrawals in the future in the same way that you would have been able to.
If you die your estate will be entitled to the total value of your WIKS account. It may also be entitled to an additional death benefit based on your age, contribution rate and earnings. This only applies if both you and your employer are contributing at least 4% at the time of your death. The Trustees will pay your benefits to the person that you have named as your executor (the person to look after your estate for you). If you are leaving your benefits to a spouse or partner your executor can choose to defer payment of the benefits and arrange for your beneficiary to make withdrawals in the future in the same way that you would have been able to.
As a member of the Seafarer Section of the Scheme, if you die while you are working in the maritime industry , your estate will be entitled to the total value of your members account .The Trustees will pay your benefits to the person that you have named as your executor (the person to look after your estate for you). If you are leaving your benefits to a spouse or partner your executor can choose to defer payment of the benefits and arrange for your beneficiary to make withdrawals in the future in the same way that you would have been able to.