Published on 01 December, 2015.

Survivor’s Lump Sum
This is paid to dependants of members under the following:

1. When a member dies before retirement or
2. When a pensioner dies before age 75

Computation

1. Where a member dies having made at least twelve (12) months contribution within the last 36 months prior to his death, a lump sum payment of the earned pension of the deceased member for a period of 15 years will be paid. This is based on the present value discounted at the prevailing Treasury Bill rate or 10%. Whichever is lower however, will be paid to the member’s nominated dependants.
2. When the death of the member occurs before making the twelve (12) months contribution within the last 36 months a lump sum equal to his total contributions and interest at the rate of 75% of government Treasury bill rate, will be paid.