Death benefits

There are three types of death benefit available in the Plan:

Death in service

If you die as a Telefónica employee then a range of benefits are payable:

• A lump sum - an amount equal to 3 times your Plan Salary at the date of your death plus an amount equal to that part of your Retirement Account attributable to the contributions you have made to the Plan.
• A spouse/Dependant's Pension. This will normally be equal to 30% of your Plan Salary.

However, you should note that if you joined the Plan outside of your first 12 months of employment with the Company then you may be a 'Pension Only' member and covered for death in service at the level of a non-member which means a lump sum of 2 times your Plan Salary at the date of your death will be paid.