Documents
Resources
Learning Center
Upload
Plans & pricing Sign in
Sign Out

HPSS Superannuation

VIEWS: 270 PAGES: 4

HPSS Superannuation

More Info
									HPSS Superannuation Life Assurance Lump Sum – Current Scheme Member 1. What the HPSS Superannuation Scheme will pay • Current Members If you die whilst you are a member of the HPSS Superannuation Scheme we will normally pay a lump sum worth twice your actual annual pensionable pay. If you are a general practitioner it will normally be twice the annual average of your uprated pensionable pay. • Former Members (who are not receiving a superannuation pension) If you have left the Scheme with preserved benefits, it will normally be three times your preserved pension. • Pensioners A lump sum may be payable if you die in the first few years after receiving your HPSS Superannuation pension. You can find out more in the booklet “Family Benefits & Life Assurance”, which is available from your employer. 2. Who will normally receive the payment

If you are legally married when you die: The lump sum will automatically be paid to your spouse, unless you have already asked us not to. If you are single when you die, or you are legally married but you have already asked us not to pay your spouse: The lump sum will automatically be paid to your legal personal representative and it will form part of your estate. Grant of Probate or Letters of Administration will be required if the lump sum is more than £5,000. If this is how you want the life assurance lump sum to be paid you do not need to complete this form. 3. How you can nominate a person, an organisation or your legal personal representative to receive the payment.

From 1st July 2002, if you want to change the arrangements described above, you can nominate one of the following to receive the life assurance lump sum: • a person (including a child)

• an organisation, including a bank, firm of solicitors or charity If you nominate a person or an organisation we will automatically pay the lump sum to them without the need to wait for Grant of Probate or Letters of Administration. If you have previously asked us not to pay the lump sum to your legal spouse, you can now nominate a person or organisation instead. If you are unable to nominate someone, but do not want your legal spouse to receive the lump sum, you can ask us to pay it to your legal personal representative instead. 4. Keeping your pension records up to date

It is vital that you keep any instructions for payment of the life assurance lump sum to date. If you complete form DG1 it will replace any earlier form DG1, DG2 (for former Scheme members) and any request on form AW237 not to pay your spouse. If you nominate someone you must tell us if they change their address, or they die, or you decide someone else should receive payment. If you cancel a previous nomination without making a new one we will normally pay the life assurance lump sum as described at paragraph 2. 5. When you can change your instructions for payment of the life assurance lump sum

You can change your instructions for the lump sum at any time while you are a member of the Scheme. If you leave the Scheme you cannot make a new nomination for the lump sum, but you can cancel a previous nomination or cancel a previous request not to pay your legal spouse. You can also ask us to pay it to your legal personal representative. 6. Deciding what to do about the life assurance lump sum on death

You can ask your employer or HPSS Superannuation Branch if you have any questions about life assurance lump sums. If you decide you need to send or change instructions for payment of the lump sum, please complete form DG1 and send it back to HPSS Superannuation Branch. 7. Additional life assurance cover from the Equitable Life

Please note that the rules for payment of the life assurance lump sum described above continue to apply to additional HPSS AVC life cover previously arranged with the Equitable Life Assurance Society (ELAS). 8. Taxation

If you nominate a person to receive the life assurance lump sum, they may wish to check their tax position.

HPSS Superannuation Payment Instructions for Life Assurance Lump Sum Current Scheme Member Personal Details Your surname Other names Your address

Telephone Number Your National Insurance number Your date of birth Your Instructions The options open to you are: A B C D Nominate a person or organisation to receive any life assurance lump sum Have any life assurance lump sum paid to your legal personal representative Cancel a previous nomination Cancel a request not to pay your legal spouse

Please tick one box only (either A, B, C or D) A: In the event of my death, I want the person or organisation named below to receive any life assurance lump sum payable. Full name of person or organisation Date of birth (if a person) Their address

DG1

B: In the event of my death, I want my legal personal representative to receive any life assurance lump sum payable instead of my legal spouse. Enter the full name of the spouse you do not want to pay in the box below.

C: I want to cancel a previous nomination. If you do not make a new nomination, any lump sum will go automatically to your legal personal representative if you are single when you die, or to your spouse if you are legally married when you die. D: I want to cancel a request not to pay my legal spouse. If you do not make a new nomination, any lump sum will go automatically to your spouse if you are legally married when you die. Signature and Witness Ask someone, other than any person or organisation you nominate, to witness your instructions and your signature below. Then ask them to complete their own details and sign and date the form. Your signature Date

A witness must be an authorised Bank Official, Civil Servant, Doctor, Magistrate, Minister of Religion, Solicitor, or other registered UK voter and must not be the nominee. Witness full name Their address

Occupation Witness signature Please send the completed form to: HPSS Superannuation Branch Waterside House 75 Duke Street Londonderry BT47 6FP Date


								
To top