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General Notes
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| Trustees |
The Scheme is administered by Trustees under the terms of the formal trust documents. The present Trustees will be shown in the latest Annual Report and Accounts, a copy of which is available on request from Capita. |
| Constitution of the Scheme |
The Scheme is a Registered Pension Scheme. It is established under irrevocable trusts and its assets are kept strictly separate from those of the Bank. The Scheme is registered with the Pensions Regulator. |
| HMRC Limits |
HMRC may in certain circumstances place restrictions on the amount of the benefits payable under the Scheme. If your benefits or the benefits of your dependants are affected by these restrictions, you will be informed. Except in relation to the payment of cash sums on retirement the Scheme benefits are subject to the limits on benefits which applied as at 5 April 2006 before the coming into force of the Finance Act 2004. |
| Amendment or Discontinuance of the Scheme |
The Bank expects the Scheme to continue but reserves the right to amend or terminate it at any time.
If an amendment affects your benefits or rights you will be given advance written notice.
If the Scheme is terminated, the Trustees will apply the assets of the Scheme to or for the benefit of the members and other persons then entitled to benefit in the manner prescribed by the formal trust documents.
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| Evidence and Information |
Every member and beneficiary under the Scheme must give such evidence and information as may reasonably be required by the Trustees for the purposes of the Scheme. The Trustees may withhold any benefit affected until the required evidence or information is given. |
| Absence from Work |
If you are regarded as still being in service, you will normally remain a member of the Scheme. You will be informed of any special provisions that will apply if the occasion should arise. |
| Assignment of Benefits |
Benefits under the Scheme are personal and cannot be assigned or charged, e.g. they cannot be used as security for a loan. |
| Discretionary Payments |
All the benefits described in this booklet are payable as of right (subject to any evidence of health requirements) and, apart from lump sum death benefits, are not subject to the discretion of the Trustees. However, the Trustees do have discretion to increase any benefit (including pensions in course of payment) with the consent of the Bank. |
| Dispute Procedures |
If you think that you have not been fairly treated under the Scheme, you can make an official complaint in accordance with the Schemes’ Internal Dispute Resolution Procedure. Details of the disputes procedure are available from Capita whose address is:
Radio House
Thanet Way
Whitstable
Kent, CT5 3QP.
Tel: 01227 771445
Email: westpac@capita.co.uk |
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