When you start taking your pension, your payments are guaranteed for five years. If you die during this guarantee period, we pay a lump sum to your dependants or personal representatives. This lump sum is the remainder of the pension instalments which we would have paid you over the guarantee period. The lump sum would be based on the value of the pension at the date of death. To have your wishes taken into account it is helpful for you to have completed a Nomination form or, if appropriate, a Will.