HSC Pension Scheme
The HSC Pension Scheme is one of the most important elements of the financial package on offer to employees of the HSC. Membership of the scheme is an important and valuable staff benefit for people working in the HSC.
If you join the scheme, you will also receive life insurance cover of twice your pensionable or reckonable pay from the day you join.
For further information please click here. More detailed information is available on the HSC Pensions website.
Did you know the HSC Pension Scheme also includes Death in Service payment?
The HSC Pension scheme provides benefits to your dependents in the event of your death. It’s not something we want to think about but this financial benefit can help loved ones to cope financially in the event of death.
1995 section
If you are a deferred member of the scheme at date of death a lump sum is payable at a rate of 3 x your deferred pension.
Widows will then get a survivor’s pension payable for life equal to ½ the amount of the deferred pension accrued. No short-term pension is payable.
Widowers, nominated partners, civil partners will the get a survivor’s pension payable for life equal to ½ the amount of the deferred pension accrued based only on service from 6th April 1988. No short-term pension is payable.
Children’s pension will be ¼ the amount of your deferred pension per child, if there are no more than two children. If there are more than two children the amount is shared equally among them.
2008 section
If you are a deferred member of the scheme at date of death a lump sum is payable at a rate of 3 x your deferred pension.
Widows will the get a survivor’s pension payable for life equal to 37.5% the amount of the deferred pension accrued. No short-term pension is payable.
Children’s pension will be 18.75% of the amount of your deferred pension per child, if there are no more than two children. If there are more than two children 37.5% is shared equally among them.