What happens to colleague benefits when I leave? (LBG)

When you leave your employer, you may want to know what happens to your colleague benefits. We would recommend checking the latest information available on the bank's intranet, but here is a summary of the treatment for different products:

Redundancy

• Any entitlement to Bupa private healthcare ends in the month you leave the business - if you've been using your healthcare for treatment, you should contact Bupa directly to take over and continue the policy.
• If you have a car, you should check how leaving impacts you and any steps you need to take. Leaving through redundancy, you are not subjected to an early termination fee.
• There are different rules around the treatment of different share plans which you can find detailed in our help article on share plans.
• You'll be entitled to any GPS award for the performance year, assuming you have worked a minimum of 12 weeks in that year. Deferred awards will be released to you.
• Within 6 weeks of leaving, you should be contacted by the bank's pension provider who will detail any options you have. The options available will vary depending upon the number of years you've worked for the bank and your age-related entitlement to take your pension benefits. If you are retiring at the same time, the pension provider will process your retirement and let you know when your payments will start.
• Any staff concessionary rate mortgage will continue for 12 months before returning to a public rate. When eligible, if you are retiring at the same time, your mortgage rate may continue until the balance if paid and while you remain in the same property. Check the rules on the bank's intranet for full details.
• You may need to take action if you have any colleague financial products such as loans, mortgage or other accounts. Refer to the guidance on the bank's intranet for details on what you need to do.

Resignation, dismissal, mutual termination & career break

• Any entitlement to Bupa private healthcare ends in the month you leave the business - if you've been using your healthcare for treatment, you should contact Bupa directly to take over and continue the policy.
• If you have a car, you should check how leaving impacts you and any steps you need to take. An early termination fee is usually applied.
• There are different rules around the treatment of different share plans which you can find detailed in our help article on share plans.
• You'll won't be entitled to any GPS award if you are under notice on or before the 1st March in the year the award is due to be paid. You will also forfeit any deferred awards that have not been paid to you.
• Within 6 weeks of leaving, you should be contacted by the bank's pension provider who will detail any options you have. The options available will vary depending upon the number of years you've worked for the bank and your age-related entitlement to take your pension benefits.
• You may need to take action if you have any colleague financial products such as loans, mortgage or other accounts. Refer to the guidance on the bank's intranet for details on what you need to do.
  

Retirement (including Ill health early retirement)

• Any entitlement to Bupa private healthcare ends in the month you leave the business - if you've been using your healthcare for treatment, you should contact Bupa directly to take over and continue the policy.
• If you have a car, you should check how leaving impacts you and any steps you need to take. An early termination fee is usually applied unless you are leaving on Ill health early retirement.
• There are different rules around the treatment of different share plans which you can find detailed in our help article on share plans.
• You'll be entitled to any GPS award for the performance year, assuming you have worked a minimum of 12 weeks in that year. Deferred awards will be released to you.
• When eligible, your mortgage rate may continue until the balance if paid and while you remain in the same property. Check the rules on the bank's intranet for full details.
  
• You may need to take action if you have any colleague financial products such as loans, mortgage or other accounts. Refer to the guidance on the bank's intranet for details on what you need to do.