Keep in touch
Pension Services provide pension administration services on
behalf of the Trustee Board. The team provides dedicated services
for all members of the Bank’s various pension schemes, including
payment of benefits, provision of quotes and projections, sending
out scheme communications, and answering any questions you
may have about your benefits.
We hold information about you in order to provide your pension
benefits (such as pensions, lump sums, death benefits), which may
include information obtained from third parties. This information may
be shared with:
• Companies within the Royal Bank of Scotland Group (please
contact us if you do not want us to share your information with
• Other third parties who assist us in administering your benefits
(e.g. updating personal data, calculating and paying benefits);
• Those where we have your permission to do so; and
• Those where we are required to do so by law. If you want a copy of the
information we hold about you, please contact us.
The use of personal data is regulated under the Data Protection Act,
which places certain responsibilities on those who exercise control over
the data (known as “data controllers” under the Data Protection Act).
Data Controllers would include the Trustee Directors of the Scheme,
and in certain circumstances, professional advisers to the Scheme. These
may include the Scheme actuary and Towers Watson, who have provided
further details at http://www.towerswatson.com/personal-data.
Write to us:
RBS Pension Services, City Link House, 4 Addiscombe Road,
Croydon CR9 5PB (Depot Code 190)
Active members: UK – 0808 100 4242
International – +44 208 535 1842
Deferred members and pensioners: 020 7649 9499
Contact us via:
click Contact HR on any HR page on intouch
Deferred members and pensioners:
email [email protected]
Tell us if your details change
Remember to let us know if your address changes. A current address
makes it easier for us to tell you about developments in the Plan
and also to pay your benefits without delay. You should review and,
if necessary, update your Nomination Form if your marital status
changes or you become a parent. This form lets the Trustee Directors
know how you would like to see any benefits paid out in the event
of your death.
Ulster Bank Pension Scheme
102206 - ULSTER BANK LIMITED - Ulster Bank NI Pensions Newsletter - Sheet 1 - Printed on 102205 - FIRST GRIP (Front) - 1 - Perfecting - 20/08/2015 - 16:26:16 - Black102206 - ULSTER BANK LIMITED - Ulster Bank NI Pensions Newsletter - Sheet 1 - Printed on 102205 - FIRST GRIP (Front) - 1 - Perfecting - 20/08/2015 - 16:26:16 - Cyan102206 - ULSTER BANK LIMITED - Ulster Bank NI Pensions Newsletter - Sheet 1 - Printed on 102205 - FIRST GRIP (Front) - 1 - Perfecting - 20/08/2015 - 16:26:16 - Magenta102206 - ULSTER BANK LIMITED - Ulster Bank NI Pensions Newsletter - Sheet 1 - Printed on 102205 - FIRST GRIP (Front) - 1 - Perfecting - 20/08/2015 - 16:26:16 - Yellow
−−−−−−−−−−−−−−− 1 −−−−−−−−−−−−−−− 2 −−−−−−−−−−−−−−− 3 −−−−−−−−−−−−−−− 4 −−−−−−−−−−−−−−− 5 −−−−−−−−−−−−−−− 6 −−−−−−−−−−−−−−− 7 −−−−−−−−−−−−−−− 8 −−−−−−−−−−−−−−− 9 −−−−−−−−−−−−−−− 10 −−−−−−−−−−−−−−− 11 −−−−−−−−−−−−−−− 12 −−−−−−−−−−−−− B = ... −−−−−−−−−−−−− 14 −−−−−−−−−−−−− C = ... −−−−−−−−−−−−− 16 −−−−−−−−−−−−− M = ... −−−−−−−−−−−−− 18 −−−−−−−−−−−−− Y = ... −−−−−−−−−−−−− 20 −−−−−−−−−−−−−−− 21 −−−−−−−−−−−−−−− 22 −−−−−−−−−−−−−−− 23 −−−−−−−−−−−−−−− 24 −−−−−−−−−−−−−−− 25 −−−−−−−−−−−−−−− 26 −−−−−−−−−−−−−−− 27 −−−−−−−−−−−−−−− 28 −−−−−−−−−−−−−−− 29 −−−−−−−−−−−−−−− 30 −−−−−−−−−−−−−−− 31 −−−−−−−−−−−−−−− 32
Prinect CS−4i Format 102/105 Dipco 13.0g (pdf) © 2013 Heidelberger Druckmaschinen AG0 B C M Y CM CMY CMY B C M Y slurC B C M Y C 20 C 40 C 80 B C M Y slurM B C M Y M 20 M 40 M 80 B C M Y B C M Y Y 20 Y 40 Y 80 B C M Y B C M Y B 20 B 40 B 80 B C M Y slurY B C M Y CY CMY CMY B C M Y slurB B C M Y C 20 C 40 C 80 B C M Y slurC B C M Y M 20 Y 80 B C M Y slurY B C M Y B 20 B 40 B 80 B C M Y slurB B C M Y MY CMY CMY B C M Y B C M Y C 20 C 40 C 80 B C M Y B C M Y M 20 M 40 M 80 B C M Y slurC B C M Y Y 20 Y 40 Y 80 B C M Y slurM B C M Y B 20 B 40 B 80 B C M Y slurY B C M Y CMY slurB B C M Y CMY
Plate Control Strip
© Heidelberger Druckmaschinen AG 2012
0/100% 1% 2% 3% 5% 10% 20% 25% 30% 40% 50% 60% 70% 75% 80% 90% 95% 97% 98% 99%
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
User: Heidelberg Druckmaschinen AG
Liz.: 6EU240708Copyright Fogra 2008 Res.: 2400DPI Acrobat Distiller 9.0.0Ugra/Fogra-Medienkeil-CMYK-EPS V3.0 Proof
Paper Width 880.0mm
210.0 x 148.0mm 210.0 x 148.0mm
210.0 x 148.0mm 210.0 x 148.0mm 210.0 x 148.0mm 210.0 x 148.0mm
Freedom and Choice
Following the major shake-up of the UK pensions industry in 2014,
people now have much more flexibility and choice in how they can
use their retirement savings, particularly those people with defined
contribution (DC) benefits – for example, if you have paid Additional
Voluntary Contributions and have not yet drawn them out of the
Scheme or used them to buy an annuity – and also people with
small pensions/pension pots.
Current pensioners who are receiving a pension from the Scheme are
not affected, unless you have benefits elsewhere that you have not yet
drawn. Under the new changes from April 2015, no one will have to buy
an annuity with their defined contribution savings.
The Government has also said that anyone wishing to transfer
defined benefits (such as the majority of benefits provided by the
Scheme) into a DC arrangement (so that they can be paid with
greater flexibility and choice) should first receive impartial, regulated
advice. If you wish to speak to an independent financial adviser,
especially if you are close to retiring, you can find a local adviser on
this website: www.moneyadviceservice.org.uk.
For anyone with defined contribution choices at retirement, the
Government has also introduced a free and impartial service
called Pension Wise: www.pensionwise.gov.uk.
Members’ newsletter 2015 11
As usual, there is a summary of the
Scheme’s Annual Report and Accounts,
which shows how your pension savings are
being managed, alongside a review of the
Trustee Board’s investment strategy.
Our article on page 6 explains some
changes that have been made to the way
the Scheme’s assets are invested and also
tells you how those investments have
performed over the last year.
You can read more about the latest pension
news on pages 10 and 11, where we’ve
included details from the 2015 Budget
speech, in which the Chancellor announced
major changes to the rules that apply to
pension freedoms and choice.
Prior to the next full valuation of the Scheme,
which is due after 31 December 2015, we
have included the latest funding update.
I am pleased to report that the Scheme has
reached a funding level of 95%. The Trustee
Directors and the Bank continue to work
Welcome to the 2015 Newsletter
for members of the Ulster Bank
Pension Scheme. This booklet
contains information about
the progress of your Scheme,
together with a news update
together to ensure the security of your
pension benefits. The updated position as
at 31 December 2014 is shown in more detail
on page 8.
I hope that you find this report helpful and
that it gives you a good understanding of
the Scheme and current pension issues.
Chairman of the Trustee Board
The Chairman’s message
Find out more about the
new rules giving you
greater freedom and choice
with your pension savings.
Members’ newsletter 20152
102206 - ULSTER BANK LIMITED - Ulster Bank NI Pensions Newsletter - Sheet 1 - Printed on 102205 - SECOND GRIP (Back) - 1 - Perfecting - 20/08/2015 - 16:26:16 - Black 102206 - ULSTER BANK LIMITED - Ulster Bank NI Pensions Newsletter - Sheet 1 - Printed on 102205 - SECOND GRIP (Back) - 1 - Perfecting - 20/08/2015 - 16:26:16 - Cyan 102206 - ULSTER BANK LIMITED - Ulster Bank NI Pensions Newsletter - Sheet 1 - Printed on 102205 - SECOND GRIP (