On a recent Comms Call, the CLT referred to the importance of ensuring that all employees have up-to-date beneficiary forms on file. These are important documents as they will help the company and pension providers distribute any death in service provisions in accordance with your wishes.
HR Director Mike Kelly said: “If you die while an employee and we do not know what to do with any payments, this can cause additional distress for any friends and family.
“Many employees do have an Expression of Wish form for the life assurance benefit. However, there are cases where circumstances change and the form on file may not reflect your current wishes.
“Please can you check that you have an up-to-date Expression of Wish form on your HR file and sign a new one if you want to change anything.”
Please note that the Expression of Wish for Life Assurance does not cover any benefit payable from pension schemes. There is a separate process and this requires a separate form.
If you are a member of the AVIVA scheme, you can update your beneficiaries online through the MyWorkplace app. This form will help AVIVA decide how to distribute any pension benefits in the event of your death.
Some of you may also be members of the old Ideal Standard Defined Benefit Scheme, which is now run by XPO. In this case, you should additionally ensure that the details held by XPO are also up to date.
If you have any questions about the above, please contact hrenquiries@idealstandard.com