RBSelect New Joiner Guide 2013/14Take a look at the range of benefits available to you

The choice is yours

RBSelect

For new joiners in Great Britain

Saving & Protection

A range of essential insurances for you and your family

Well-Being

Claim cash back for everyday healthcare appointments

Includes Fast-Track Physio (with no excess to pay)

A superior level of health care

4 levels of dental cover

Retail & Leisure

Up to 10% discount in leading retailers

Lifestyle

Low-cost legal advice

Savings on the first £243 a month

Spread the cost over 3 years

Win up to £20,000!

Click on the list below to find out more about the benefits that interest you most. Then visit www.rbselect.rbspeople.com/uk to read the full benefit details before making your elections online at www.rbspeople.com/YourRewardOnline

Key:

Hassle free motoring for eligible employees

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Additional Benefit in Kind (BIK) charges apply

Anytime benefit - available all year round

Contribute to your retirement savings

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Income if you’re too ill to work

Tax-free lump sum if you die

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Core benefits

Core benefit for manager level and above

Default cover for Executives

Default cover for Executives

As a new joiner you have the chance to make your pensions elections and choose from a wide range of important insurances and products. All designed to make your life easier and save you money.

There are four categories within RBSelect

Each category offers a range of benefits to help you take care of yourself and your family and save you money on everyday and special occasion shopping.

The following pages give you an overview of each benefit and are there to help you decide which benefits might be right for you.

Make sure you then read the full product details and terms & conditions before making your elections at www.rbspeople.com/YourRewardOnline

Welcome to RBSelect benefits.

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An explanation of how RBSelect works

RBSelect is the Group’s benefits choice programme which helps you make the most of your income.

Your pay is made up of a number of elements including your ValueAccount and any performance award.

Your ValueAccount is the combined value you get from your salary plus your benefit funding and pension funding. And the great thing is it’s up to you how you want to use it!

In fact you can use up to 70% of your total ValueAccount towards RBSelect benefits or your pension.

Here’s a picture of how Your Pay is made up.

Your salary is only part of your pay:

This is your ValueAccount - it’s up to you how you want to use it!

SalaryMoney that gets paid into your bank account every month

Benefit fundingAn additional amount of money which can be put towards your benefit choices, or taken as cash

Performance awardAwards given to eligible employees to recognise higher performers

your pay

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+Pension benefit fundingAn additional amount of money to help you save for retirement

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What do I need to knowWhen can I make my elections As a new joiner you have 90 days to make your elections, from the date you join RBS Group.

How do I make my electionsOnce you’ve decided on the RBSelect benefits you’re interested in visit www.rbselect.rbspeople.com/uk for full benefit details and to understand your options and the terms and conditions of each benefit. Then simply click on www.rbspeople.com/YourRewardOnline to make your elections.

All you need is your employee ID and Your Reward PIN. You will be sent your PIN in the post. If you have any questions about RBSelect or experience any problems using the online system, contact askHRdirect for help and support on 0808 100 4242.

What else do I need to know?Don’t forget to look out for the Anytime products which you can choose anytime throughout the year.

Many of the RBSelect benefits let you save money on Tax and National Insurance contributions over and above any of the product discounts. Look out for these symbols against each benefit.

Some products attract Benefit in Kind tax. Look out for this and make sure you read the full benefit details online before making your elections.

Some benefits are automatically arranged for you as a new joiner. These are core benefits which every new employee receives and is charged for.

In addition to the core benefits that every employee receives there are some benefits that are core to managers and default for Executives and are also charged. Look out for these symbols.

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What are my pension options?

As a new employee of RBS Group we’ve enrolled you as a member of the RBS Group Retirement Savings Plan.

Retirement Savings Plan

The Retirement Savings Plan is a defined contribution plan. This means that a pot of money is held in your name: you contribute into this pot, it’s invested in line with your choice of investments and when you get to an age where you want to take some money out, you use the pot to buy a pension from an insurance company.

How much you save

You typically get 15% of your salary as pension benefit funding to help you save for your future. It’s up to you how much of this, or more, you want to contribute to your Retirement Savings Plan. We automatically set your contribution rate at 10% of your ValueAccount (your combined salary, benefit and pension funding) to get your retirement savings started, but you can change this up or down if you wish. You’ll be able to see the actual monetary amount of your contribution when you make your elections. You should regularly review your contribution rates in line with your own personal retirement goals.

How your savings are invested

We also put your contributions into an investment choice, our Lifestyle Fund, as a default. This has been designed to meet the investment needs of most of our members and to gradually transfer your money into lower-risk investments as you approach your normal pension age (defaulted to 65 but can be amended online). You can find out more about the Lifestyle Fund when you log in to make your elections. You can choose to alter your investment choices and select your own funds from a choice of 12 offered by the Plan – these options are also outlined when you make your elections.

Saving & Protection

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What else you need to know

New legislation to encourage retirement savings in the UK came into force in 2012. This is referred to as auto-enrolment and you might have seen government adverts for it. It basically means that employers have to automatically enrol employees into a pension plan with a minimum level of contributions. This is currently set at 2% but will increase to 8% in the future.

If you stick with the default contribution of 10% of ValueAccount, or anything above 2%, this doesn’t impact you.

But if you reduce your contributions to less than 2%, the current legislative minimum, then by law we may need to re-enrol you in the Retirement Savings Plan in future. If this is the case we’ll contact you first to let you know what we’re doing and to let you know your options.

Where to go for more information

For more information on your pension, more details on how it works and to make any changes to your default elections please log on to www.rbspeople.com/YourRewardOnline

If you have any questions please contact askHRdirect for help and support on 0808 100 4242.

Saving & Protection

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Providing for your family

It’s important to know that your loved ones would be financially provided for in the event of your illness or death. Through RBSelect you can choose various levels of protection to cover these circumstances and provide peace of mind. As a new joiner we automatically arrange Disability and Life cover for you with a minimum level of provision.

Disability Cover

This can provide you with a replacement income if you are unable to continue to work through illness or injury.

The default cover (if you make no changes) will provide you with an income of 50% of your ValueAccount payable until age 65, as long as you meet the insurer’s eligibility conditions. The amount of cover can be changed, up to a maximum of 75% of your ValueAccount. The length of cover can also be reduced to a maximum of 5 years, rather than out to age 65.

The monthly RBSelect charge for the default Disability Cover depends on your age, so please go to www.rbspeople.com/rbselect for more information.

Life Cover

This will pay a tax-free lump sum to your chosen beneficiary if you die while working for the Group.

Your beneficiary might be a partner, child, relative or friend. The amount of the lump sum can vary, but as a minimum amount you need cover of 3x your ValueAccount. You can increase your cover to a maximum of 9x your ValueAccount, with some restrictions on the circumstances in which you can do this. For example as a new joiner you can elect cover of up to 9x your Value Account during your initial 90 day window, but after this window you can only increase your cover by one multiplier a year (i.e. from 3x ValueAccount to 4x ValueAccount).

See www.rbspeople.com/rbselect for more details. Remember to register the name of your chosen beneficiary at www.rbspeople.com/YourRewardOnline

The RBSelect charge for this core level of cover is 0.147% of your monthly ValueAccount.

Saving & Protection

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Dependant’s Pension

This benefit will pay a pension to your dependant if something happens to you. The pension will be paid to them for the rest of their life, regardless of their age. You can choose the amount of the pension that will be paid between 10%, 20% or 30% of your ValueAccount.

There is no default or minimum level for this benefit and so it will only be applicable (and payable) if you make a choice online.

See www.rbspeople.com/rbselect for more details. Remember to register the name of your dependant/s at www.rbspeople.com/YourRewardOnline if you decide to elect this benefit.

What do I do now?

For more information on any of these benefits and to make your elections please log on to www.rbspeople.com/YourRewardOnline

If you have any questions please contact askHRdirect for help and support on 0808 100 4242.

Saving & Protection

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Other Saving and Protection options

Offering you peace of mind for yourself and your family, with a range of affordable choices. Life Assurance Spouse/Partner

Easy to arrange for peace of mindAs an employee of RBS Group you are automatically enrolled in Life Cover. This provides financial support to your beneficiaries or dependants if you die in service. However, for many families the contribution made by a spouse or partner, whether working or not, is vital to the balance of their family budget.

Spouse/Partner Life Assurance offers you the chance to secure affordable cover for your spouse or partner from Friends Life Limited in amounts of £25,000 up to £250,000. The monthly charge you pay varies depending on the age of your spouse/partner and the level of cover you choose.

You can be confident that you’ll get financial help when you need it most for a reasonable monthly RBSelect charge.

Saving & Protection

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Critical Illness Insurance

Valuable insurance, costing only a few pounds a monthThe benefit that Critical Illness Cover gives you is peace of mind should you or your partner be diagnosed with one of a number of specified critical illnesses. With receipt of a lump sum payment you could for example, ease the burden of family bills, or help with the cost of specialist equipment or transport.

With a choice of Silver or Gold cover, and the option of self or self & spouse/partner you can choose a level of cover in amounts of £25,000 up to £250,000 (or 4 x your ValueAccount, whichever is less). Your children are automatically covered as part of this policy.

For full details of cover, illnesses and eligibility criteria see the product summary pages on www.rbspeople.com/rbselect

From as little as £1.26 per month Critical Illness Insurance could offer you the financial help you need to let you focus on what’s most important.

Personal Accident Insurance

Easy to arrange for all the familyWe all know how important it is to get Travel Insurance when we’re on holiday, whether at home or abroad. But with Personal Accident Insurance you have peace of mind that you’re covered 365 days a year if you were to have an accident resulting in personal injury.

You can choose either Individual or Family Cover and your monthly premiums are charged per £25,000 worth of cover you buy, up to £500,000. This insurance policy pays a tax-free lump sum which could help give you additional financial support when you need it most.

For full details of cover and costs see the product summary pages on www.rbspeople.com/rbselect

For a small RBSelect charge of £0.44 per month for each £25,000 unit of cover or £0.88 per month for all the family.

rbspeople.com/rbselect

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Take another look at Well-Being

Bringing you a range of options to help maintain a healthy lifestyle

Health Cash Plan

Cash back on essential healthcareWhether it’s new glasses, a series of dental treatments or a visit to your local chiropodist, sometimes the cost to your purse or wallet is just as worrying as the treatment itself.

With the RBSelect Health Cash Plan you can ease the pain of essential healthcare costs, with a manageable monthly payment. Unlike some health or insurance policies the Health Cash Plan lets you claim for the cost of treatment for some pre-existing conditions and is designed to complement other RBSelect Well-Being benefits.

For a monthly charge of £12.15 for Individual cover (including dependants) or £24.25 for full Family cover you can reclaim the cost of essential healthcare expenses.

Private Medical Cover

Low cost options for quality coverWith RBSelect you can access private medical care for you and your family at affordable rates.

There are three levels of cover for treatment of acute illnesses and injuries. And with all levels of cover you receive automatic access to a specialist Fast Track Physio service. So if you suffer from back, neck, muscle or joint pain you can access prompt treatment without the need for a GP referral and no excess to pay if only physio treatment is required.

Bronze cover is available from as little as £23 per month but take a look at the full range of cover and pricing options, including full policy details, online at www.rbspeople.com/rbselect

Well-Being

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rbspeople.com/rbselect

Platinum Medical Cover

A premium level of serviceOffering you a superior level of cover, this benefit is an upgraded version of Private Medical Cover. With Platinum Medical Cover you have access to worldwide private medical treatment and care. The policy also provides a level of dental cover and access to private facilities for routine pregnancy and childbirth including the use of private GPs.

For full benefit details and charges visit www.rbspeople.com/rbselect

Dental Insurance

Easy to arrange for all the familyThe cost of dental treatment can often be as painful as the treatment itself. But with RBSelect Dental Insurance you can claim back the cost of any necessary dental treatment, from routine check-ups and scalings through to more major work like crowns, bridges and dentures.

You can choose from 4 levels of cover designed to reimburse you for as much of your costs as possible – depending on whether your treatment is normally charged at NHS rates or private dental rates.

As well as saving you money on one off treatments Dental Insurance is a great way to encourage you to make regular visits to the dentist to help maintain healthy teeth and gums.

For an RBSelect monthly charge of £3.99 for you or less than £12 a month for you and your family.

Health Assessment

Available to all during the Benefits Election windowRegular health checks do much more than just help to detect illness. It’s an opportunity to review all aspects of your health fitness and lifestyle and can even help spot many preventable diseases, like some cancers and heart disease, before they become more serious.

If you have an Executive contract, Health Assessment is elected as a default. You can change this or opt out at the next summer Benefits Election Window.

Homerbspeople.com/rbselect

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RBSelect saves me money on my shopping. I use the RBSelect card and buy additional shopping vouchers before any big purchases. I’ve recently moved house and through a combination of both I’ve easily saved £400!

Carolyn, UK Retail

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Take another look at LifestyleWork out how much you could save with the great deals we’ve negotiated on your behalf.

Telephone Legal Advice

Affordable professional adviceRBSelect Telephone Legal Advice gives you the peace of mind that confidential, impartial and practical legal advice is just a phone call away, whenever you need it. Whether you’re moving house, renting a property, facing bereavement or divorce this service helps you get early legal advice before you take any legal action.

You can also get advice on issues relating to motoring law, employment, consumer, personal injury and taxation law. The freephone helpline is open 7 days a week including bank holidays.

For an RBSelect charge of just £3.12 a month, that’s less than £40 a year for unlimited access to telephone legal advice.

Lifestyle

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rbspeople.com/rbselect

Electronic Childcare Vouchers

Saving you money on childcare costsIf you are paying for childcare, make sure you don’t miss out on our discounted Childcare Voucher scheme. You can save up to £1,100 a year on your childcare costs and pay for a range of childcare from nurseries and childminders through to after-school care and breakfast clubs.

RBS pays 10% of the cost of the Childcare Vouchers you choose to buy, up to £243 each month.

So, if you elect £250 worth of Childcare Vouchers a month, after the discount and tax and NI savings, the cost to you is less than £157 – saving you £93 every month.

Don’t miss out on the chance to save over £1,100 a year or £2,200 a year if you and your partner both work for RBS and are eligible for RBSelect.

Bike for Work

Helping you save money and keep fitIf you’re thinking of buying a bike as a way to get fit and do your bit for the environment then why not save money at the same time.

Bike for work helps you spread the cost of a new bike over 36 easy monthly payments – no lump sum and no interest to pay. The Bike for Work discounts offered by Halfords on a wide range of makes and models can deliver significant savings.

Based on a bike costing £500 with a 15% discount plus tax and NI savings, this could cost you less than £300.

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(first £243 per month)

RBS Group Charity Lottery

Easy to arrange anytimeWith the RBS Group Charity Lottery, you can win up to £20,000. The charge for each entry is £2 a month and you can elect up to five entries a month. Each month a draw will be carried out and 50% of the full lottery proceeds given out in prize fund – up to the following maximum amounts.

1st Prize 50% of the prize fund up to £20,0002nd Prize 25% of the prize fund up to £10,0003rd Prize 12.5% of the prize fund up to £5,000

Be in with the chance to win up to £20,000 each month whilst doing your bit for charity.

Company Car

Hassle free motoring with easy monthly payments If you’re eligible for a company car you can choose form a wide range of makes and models with the RBSelect Company Car scheme, provided by Hitachi Capital Vehicle Solutions. Easy monthly payments are a great way to help you manage your finances. You can plan for fixed cost motoring with fully comprehensive insurance, servicing and maintenance, replacement tyres, unlimited mileage and roadside assistance all included in one easy monthly charge.

Take a look at www.rbspeople.com/YourRewardOnline to check whether you are eligible for a company car.

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My kids cost me a lot of money, so the savings I make through RBSelect Childcare Vouchers are a welcome relief!

Steve, Group Functions

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Take another look at Retail & LeisureA range of options to help you save money every time you shop

RBSelect Card

Think of it like a pre-paid debit card but with great discounts of up to 10% at over 50 high street retailers.

Just decide on the amount you’re likely to spend each month and save money every time you pay with your RBSelect Card in a wide range of retailers. You might just want to load up enough to save 4% on your groceries at Sainsburys or Asda or load up a bit extra to save 5% on your spend at M&S or John Lewis. Or you could save 6% on the cost of bigger spend items such as furniture or electricals at Homebase or Argos. There’s a wide range of retailers to suit everyone.

The discounts you receive are added onto your card balance as credit, early the following month, so you’ll really see your savings add up.

If you spend on average £150 a week on groceries at Sainsburys or Asda and use your RBSelect Card to pay for them you’ll bank a saving of £300. That’s 2 free weeks worth of groceries.

Shopping Vouchers

Saving you money at your favourite retailersRBSelect Shopping Vouchers are a simple way to make savings on food, clothing and a whole lot more and can used instead of or in addition to the RBSelect Card.

Decide which retailers you want to buy vouchers for and how much you want to spend and make your elections on line each month. You’ll be sent Shopping Vouchers for that amount and can use them at your own convenience. Most retailers will send you a reloadable gift card rather than a paper voucher. You’ve got the flexibility to change the value and mix of your vouchers each month.

Remember the RBSelect Card and Shopping Vouchers are both Anytime benefits so you could look at these for your Christmas shopping – but why miss out on savings of up to 10% all year round.

Have a look online at www.rbspeople.com/rbselect for full details of participating retailers and work out how much you could save!

Retail & Leisure

rbspeople.com/rbselect

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rbspeople.com/rbselect

Find out moreFor more details about all the choices available to you, visit the RBSelect website now.

Make your elections

If you already know what you want go straight to www.rbspeople.com/YourRewardOnline You can even make your elections at home.

If you need more information to help you decide then go to www.rbselect.rbspeople.com/uk

All you need to elect is your employee ID and Your Reward PIN. We send you Your Reward PIN to your home address along with/just after we send you your new joiner contract.

If you haven’t received this please call AskHRdirect on 0808 100 4242.

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