DB DC Overview Part II

[Audio] Introduction to Pensions Part II Legal Copy Helvetica Regular 8/9.6 AA Gray.

[Audio] Member Events (ME) Process Overview Legal Copy Helvetica Regular 8/9.6 Black.

[Audio] Types of caseworks Data Change Active Queries Transfer In Preserved Queries Transfer Out Death with spouse AVC New Transfer out overseas Leaver Preserved Settlement Refund Death Settlement Nomination of wish Change of Address Dependent Application Form NI Change Returned Payment Death of dependent HMRC queries Death of spouse GMP Preserved Quotes Marital Status Change Trace Alteration Active Quotes Alteration Child EPB quotes Spouse and Pensioner Quote EPB settlements Pay or Tax Queries Active settlements Death no spouse Refund settlement Other deduction New Entrant Working hours change Bridging Date of Birth change Application to increase life cover Triv comms AVC Change Tax code change Active retirement quotes POA AutoRefund Early Retirement Quotes AVC queries You Can see the type of caseworks processed by the Member Events Team.

[Audio] Statuses of membership ACT Active PP Preserved Pensioner PN Pensioner NL No Liability WB Widow/widower beneficiary These are the employment status of the members. It could by Active, Preserved, Pensioner, Widow/Widower beneficiary or No Liability.

[Audio] No Liability Active Pensioner Preserved Tomb icon Data Change DRS1 Returned Pay New Entrant CHBA DRS2-3 Trace EOW CHAD TV In AVC Leaver SPAG TBPR Retirement Refund TV Out Here is the lifespan and caseworks for each employment status.

[Audio] Legal Copy Helvetica Regular 8/9.6 White.

[Audio] New Entrant This transaction is created to send to new members of the scheme forms with basic information about the scheme New Entrant transaction is created to send to new members of the scheme forms with basic information about the scheme.

[Audio] Expression of wish Legal Copy Helvetica Regular 8/9.6 White.

[Audio] What is expression of wish process? In this process member provide us with nominated beneficiary or beneficiaries. In expression of wish process, member provide us with nominated beneficiary or beneficiaries..

[Audio] What is expression of wish process? Expression of wish process has two stages: 1st – member’s request for EoW form or invalid nomination of beneficiaries (member must distribute 100% of his or her benefits) 2nd – receipt of completed EoW form, system update Expression of wish process has two stages: 1st – member's request for EoW form or invalid nomination of beneficiaries (member must distribute 100% of his or her benefits) 2nd – receipt of completed EoW form, system update.

[Audio] On which process the "expression of wish" has an impact? Legal Copy Helvetica Regular 8/9.6 Black.

[Audio] Relation to other processes Expression of Wish Death Expression of wish process determine beneficiaries after member’s death It is crucial to hold up-to-date information to identify parties entitled to death benefits Expression of wish process has two stages: 1st – member's request for EoW form or invalid nomination of beneficiaries (member must distribute 100% of his or her benefits) 2nd – receipt of completed EoW form, system update.

[Audio] Leaver Legal Copy Helvetica Regular 8/9.6 White.

[Audio] Leavers Leaver is a member of the scheme who stops his membership due to various reasons, in most schemes' underage of Normal Minimum Retirement Age (55) Leave employment and the pension scheme Leave the scheme and continue employment (Opt Out) Types of leavers in respect of service in the scheme: < 3 mths 3-24 mths >24 mths Refund TV out 3. Preserve Pension Preserve Pension TV Out 1. Refund 2. Preserve Pension Leaver is a member of the scheme who stops his membership due to various reasons, in most schemes' underage of Normal Minimum Retirement Age (55) Leave employment and the pension scheme Leave the scheme and continue employment (Opt Out).

[Audio] Transfer Out Legal Copy Helvetica Regular 8/9.6 White.

[Audio] Transfer Out A transaction resulting from the decision of a retail client who is an individual, to transfer preserved benefits (contributions) that are in one pension scheme to another pension scheme. Scheme is being closed Another scheme is cheaper Member in one scheme wants to consolidate all pensions Member wants to move abroad Transfer out is a transaction resulting from the decision of a retail client who is an individual, to transfer preserved benefits (contributions) that are in one pension scheme to another pension scheme..

[Audio] Stages Request from member, IFA or receiving scheme If the request is from a 3rd party check if the company is on the List of Unauthorised firms and individuals to avoid Checking record and documents If we have an authority to provide IFA with requested information Calculation based on preserved benefits Another quote has been sent within the last 12 months Preparing a Quote Transfer Value depends on the current factors Member’s Decision Closing record Required documents Application For Transfer Receiving Scheme Details Form PSTR/HMRC registration letter Bank Details Disinvesting AVCs Settlement Stage Final correspondence to: Member IFA/Receiving Scheme TV OUT Pack includes all the information required to enable transferring benefits from the Scheme, or to enable either new employer's pension scheme or IFA to give member appropriate information or advice regarding a transfer of benefits..

[Audio] Retirement Legal Copy Helvetica Regular 8/9.6 White.

[Audio] Stages Request from member, IFA Checking record and documents If we have an authority to provide IFA with requested information Calculation based on preserved benefits Preparing a Quote Retirement Value depends on the current factors Member’s Decision Required documents Option form Other Pension Benefits Form Bank Details Disinvesting AVCs Settlement Stage Final correspondence to: Member These are the stages of retirement process. Please go through the follow cart before moving to the next slide..

[Audio] Bank Details Legal Copy Helvetica Regular 8/9.6 White.

[Audio] What is bank details change process? In this process, following member’s correspondence, we change member’s bank details, to which we pay his or her pension. We can also accept correspondence sent by people/institutions which has Power of Attorney or Court of Protection in respect of relevant member. We cannot accept requests sent by emails. Accuracy and meeting deadlines are two important factors. In bank details change process, following member's correspondence, we change member's bank details, to which we pay his or her pension. We can also accept correspondence sent by people/institutions which has Power of Attorney or Court of Protection in respect of relevant member. We cannot accept requests sent by emails..

[Audio] Relation to other processes Retirement Bank details are required to set up a new pensioner in our systems Bank details change Death Member’s pension may return if we update bank details incorrectly or after Payroll’s cut off Bank details are required to set up a new pensioner in our systems Member's pension may return if we update bank details incorrectly or after Payroll's cut off.

[Audio] Death process Legal Copy Helvetica Regular 8/9.6 White.