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    Important Information – Annual Election Window 2014

    We want you to know about some changes we’re making to RBSelect ahead of the annual election window opening on 3 September 2014. Each year we review the RBSelect benefits to see which ones are used the most by employees. We also listen to employee feedback and look for ways that we can improve.

    As a result, we’ve moved some RBSelect options to Your Offers, our employee discount website. There are some that will no longer be available but alternatives have been provided wherever possible. If you currently have any of these elections, you will receive a letter to your home address explaining the options available to you.

    Whilst we work through the changes required to this RBSelect site ahead of the annual election window, we’ve listed below the changes and also added comments at the top of each benefit page.

    Benefits Changing  

    Health Cash Plan

    Cover available on a personal basis with Simplyhealth through Your Offers

    Telephone Legal Advice

    Cover available on a personal basis with Law Express through Your Offers

    Wine

    Option available on a personal basis with Laithwaites through Your Offers

    Mobile Phone

    Discounts available from providers such as O2, Vodafone and Apple through Your Offers

    Home Computer

    RBSelect Card or Shopping Vouchers provide discounted shopping options e,g. 9% at John Lewis or 6% at PC World (and can often be used in conjunction with Your Offers discounts). Your Offers also provides you with access to discounts across a variety of providers such as HP and Apple.

    Arcadia, Boots, bonusbond and Debenhams Vouchers

    You can continue to save at Arcadia, Debenhams and Boots as well as many of the bonusbond retailers by using the RBSelect Card.

    Charity Lottery

    Currently only the winner of each monthly draw can decide which charity benefits that month. Payroll Giving is a simpler way to ensure the charity or charities of your choice benefit from your contributions

    Dependants Pension (for members of the Retirement Savings Plan)

    This benefit is being removed from RBSelect. This benefit is not commonly available in the market place and it has become increasingly difficult to find an insurer who provides this type of cover.

    Holiday Sell

    This benefit is being removed from RBSelect. We think that it’s important that you have the time to take your leave each year. Holiday Sell is also a costly benefit for RBS to provide.

    Welcome to RBSelect

    Benefits election window.RBSelect lets you choose from a range of retirement savings options, important insurances and other products.

    They have been developed to protect you and your family, help you look after your health and help you save money on your everyday spending and special occasion shopping.

    With RBSelect you can make the most of your money by taking your salary, benefit funding and pension benefit funding (your ValueAccount) in the way which works best for you.

    If you’re new to the bank, here’s an online guide to help you make your choices in your first 90 days.

    Save money throughout the year

    With RBSelect ‘Anytime’ benefits you can make elections throughout the year and

    • save up to 10% off your high street and grocery shopping.
    • get 15% off the list price of a new bike for work, as well as tax-efficient payments spread over 36 months.
    • buy discounted and tax-efficient childcare vouchers to help you pay for childcare costs.

    The choice is yours

    Here’s a summary of all the benefits available to you now. Some can save you money on tax and/or National Insurance.

    You can find full details of each benefit by clicking on the benefit name. 

    Benefit

    Available during the RBSelect Benefits Election Window. Elections are effective from 1 October.

    Anytime RBSelect Anytime – available for you to elect all year round. Your elections effective from the 1st of the following month.
    New Joiner New Joiner – available to all New Joiners within 90 days of joining the Group.
    Your World Benefits that can help you do your bit for the environment.
      Do I save money on income tax or National Insurance?   When can I change my election?
      New Joiner Benefit Anytime
    Income Tax Saving NI saving New Joiner Window Benefit Election Window Anytime Election
    Saving & Protection          
    Final Salary Pension Plan Yes Yes N/A tick tick
    Additional Pension Contributions (APeCs) Yes Yes N/A tick tick
    The Royal Bank of Scotland Group Retirement Savings Plan Yes Yes tick tick tick
    Disability Cover Yes Yes tick tick cross
    Life Cover Yes Yes tick tick cross
    Dependant's Pension Yes Yes tick tick cross
    Life Assurance Spouse/Partner No Yes tick tick cross
    Critical Illness Insurance No Yes tick tick cross
    Personal Accident Insurance. Yes
    (Partly*)
    Yes tick tick cross
    Well-Being          
    Health Cash Plan No Yes tick tick cross
    Private Medical Cover No Yes tick tick cross
    Platinum Medical Cover No Yes tick tick cross
    Dental Insurance No Yes tick tick cross
    Health Assessment - Self Yes Yes cross tick cross
    Health Assessment - Spouse/Patner No Yes cross tick cross
    Lifestyle          
    Mobile Phone Yes Yes cross tick cross
    Wine No Yes cross tick cross
    Holiday - Buy Yes Yes cross tick cross
    Holiday - Sell No No cross tick cross
    Telephone Legal Advice No Yes tick tick cross
    Home Computer # Yes Yes tick tick cross
    Company Car Scheme # Yes Yes tick tick tick
    Electronic Childcare Vouchers Yes
    (Partly*)
    Yes
    (Partly*)
    tick tick tick
    Bike for Work Yes Yes tick tick tick
    RBS Group Charity Lottery No No tick tick tick
    Retail & Leisure          
    Shopping Vouchers No No tick tick tick
    RBSelect Card No No tick tick tick

    * Refer to benefit pages for details
    # This benefit is subject to Benefit in Kind tax based on the value of the car/computer. Bike is not subject to Benefit in Kind unless you leave the Group before the end of the 5/6 years. Refer to benefit pages for details

    If you’re new to the bank, here’s an online guide to help you make your choices in your first 90 days.

    How to make your elections

    Log in to www.rbspeople.com/YourRewardOnline to make your elections from work or home - you’ll need your employee ID and your PIN.

    If you don't have a PIN or you've forgotten it, you can order a new one at YourRewardOnline please note that it can take several days for it to arrive at your home address, although if you've already answered your security questions, you can easily reset your PIN straight away online.

    For any other technical queries, please contact HR People Services on 0808 100 4242 (from the UK) or +44 208 535 1842 (from overseas).

    Employees in businesses being divested

    If you work in a business which is being divested, you are eligible to participate in RBSelect. However, we would encourage you to read the Important Information pages for more information about charges which may be payable when you leave RBS.


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