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If you opt to commute some of your pension for a larger lump sum on retirement, this will not alter the level of benefits payable to your partner or dependants on your death.
 
However, if you choose to commute some of your pension for a larger lump sum on retirement, this may affect the calculation of the lump sum on death benefit that may be payable to your beneficiaries on your death. This is because the total amount of lump sum that you were paid on retirement will be used to determine whether any lump sum on death benefit is payable.

Further information can be found on our website.