Plan Booklet - November 2000 Announcement

This announcement contains new information about The G.E.C. 1972 Plan and should be read in conjunction with the scheme booklet (1997 edition).

The GEC Plan benefits on Death (pages 8 and 9 of the booklet)

The procedures for nominating a specified dependant under The GEC Plan have been updated. There will be no change to the amounts of benefit payable.

In future, only unmarried members may nominate a specified dependant. A married member will not be able to make a nomination even if he or she is no longer living with his or her spouse on a permanent basis. However, existing nominations are not affected.

The period in which a nomination may be made has been extended. It is now possible to make a nomination not only just shortly before the earlier of reaching age 65 and the pension starting, but up to six months after the earlier of those two dates.

As now, any person nominated must be financially dependent on the member both at the date of the nomination and at death (and must be accepted by the Trustee). However, the definition of financial dependency has been widened, so as to include for example cohabitees where the two are contributing towards shared household expenses.

Nomination forms may be obtained from telent Pensions Office, PO Box 20, The Hollies, Newport Road, Stafford ST16 1BY.

GEC Plan Contributions (page 4 of the booklet)

For new members joining the Plan after 2 November 2000, contributions are now deducted from earnings paid on the first payday after you are admitted to the Plan, instead of after the sixth day of the month coincident with or next following your admission.

The contribution rate remains unchanged.