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Lump Sum Nomination Form - RBSPeople

Lump Sum Nomination Form - RBSPeople 2025

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The document is a Lump Sum Nomination Form for the Royal Bank of Scotland Group Retirement Savings Plan, which allows members to designate beneficiaries for a death benefit payable upon their passing. It outlines the necessary member details, instructions for nominating beneficiaries, and emphasizes the importance of keeping nominations updated. The Trustee has discretion over the payment distribution, and consent for information usage is required.

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Versions	Form popularity	Fillable & printable
2010	4.4 Satisfied (49 Votes)
2005	4.5 Satisfied (25 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the purpose of the beneficiary form?

Why do I need to name a beneficiary? Many financial products including life insurance benefits are generally not governed by your will, so the only way to make sure your policys benefits are distributed how you intend is to make sure youve named a beneficiary for all of your policies and accounts.

What is a lump sum beneficiary?

If your pension is being paid, theres often a guarantee period (usually five to ten years). If you die within this period, a lump sum might be paid to your beneficiaries. This lump sum is usually the value of the pension payments that were due to be paid between your death and the end of the guarantee period.

Why is it important to nominate a beneficiary?

Nominating beneficiaries helps the Trustee understand who you want to receive your benefit in the event of your death. Not making a nomination means that your wishes might not be taken into account when the Trustee decides who will be paid and in what proportions.

What is a nomination form used for?

Nomination is part of the process of selecting a candidate for either election to a public office, or the bestowing of an honor or award. A collection of nominees narrowed from the full list of candidates is a short list.

How much is the NHS lump sum on death benefit?

Cash lump sum: ScenarioLump-sum entitlement If you die as an active member 2 x annual pensionable pay (or average uprated earnings for practitioners). If you die while drawing your pension The lower of 5 x pension (minus any pension already taken) or 2 x pensionable pay (minus any retirement lump sum you took).1 more row

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What is a beneficiary nomination?

A beneficiary nomination form is a document that identifies the person or people that you chose to receive the benefits of a pension or life insurance policy in the event of your death. It ensures that the trustees or service provider know who to pay the benefits to.

What is a nominee for pension death benefits?

A nominee is an individual nominated by the member or the scheme administrator who is not a dependant. The scheme administrator can only nominate an individual where there is no surviving dependant, individual or charity nominated by the member.

Lump Sum Nomination Form - RBSPeople 2025

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What is the purpose of the beneficiary form?

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Why is it important to nominate a beneficiary?

What is a nomination form used for?

How much is the NHS lump sum on death benefit?

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What is a beneficiary nomination?

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