2: Group Life Assurance (GLA)
Every month you contribute 0.87% of your salary to Group Life Assurance. This scheme pays out a lump sum equal to twice your annual pensionable salary in the event of your death. The payment is tax free.
You complete a Nomination of Beneficiary form and you tell us who to pay and what percentage to pay. This is entirely in your hands and it is vital that your form is always up to date.
It is important to update this form after any of the following events:
Remember that you are responsible for this and we cannot stress enough how important it is to keep your form up to date.
Your updated form needs to be signed and sent to your HRA who will record it on PeopleSoft.