Death Benefits

Notice To All Employers
In The Construction Industry

The Employer’s Organisations and the Trade Union, being parties to the Council have concluded their deliberations on the directive by the Insurance Pension Commission (IPEC) to allow the Pension Fund to collect on its behalf with effect from 01 October 2016. Employers are therefore requested to remit pension deductions/ contributions directly to the Pension Fund.


We will update a pensioner’s record with any changes to personal details once every month before effecting the monthly payroll.

We will send to each pensioner a certificate of existence, by 31 March each year for subsequent completion and return to the Fund. Failure to return the completed certificate will result in pension payment being suspended.

We will acknowledge receipt of notice of death of a pensioner and start to process payment of dependents’ benefits, provided all details and documentation are at hand, within one month of receipt of the notice.

Either of the following two benefits is payable on the death of a member before retirement.
  1. A lump sum equal to twice or once annual salary at the time of death, while in the service of the industry that is if you die within 36 days after date of your last contribution. In case if you had contributed to the Fund continuously for 5 or more years, the benefit will be twice your annual salary or wage at the time of death and if less than 5 years it will be once your annual salary or wage. This benefit is paid as either lump-sum or pension over a fixed period depending on the benefit purchased. The period varies between 10 and 20 years depending on the residual pension.
  2. Refund on death is applicable if you die after leaving the industry for a period in excess of the 36 days after date of last contribution. In this instance a lump-sum payment which consists of both the employee and the employer’s contributions together with interest that would have been earned by the Fund. The benefit is not taxable.
The lump sum death benefit shall be paid as per the following order;
  1. To your surviving spouse(s) and dependent children or
  2. If you leave behind neither surviving spouse(s) nor dependent children to any other dependents or
  3. If neither of the above is available, the benefits will be paid to any nominated beneficiary, or
  4. If you leave no surviving spouse, dependent children, dependent or nominee, to your Estate.


What benefits are payable on death after retirement?
  1. If you die before the expiry of the guarantee period while in receipt of a pension leaving a spouse(s), the pension will continue to be paid for the balance of the guarantee period.
  2. If you die after the guarantee period, there is no further benefit payable since pension is payable as noted above.
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