Date posted: 01/08/2007
Audience: HR staff/Payroll managers who are responsible for paying Civil Service Additional Voluntary Contributions (CSAVCs), partnership pension account and stakeholder member and employer contributions to Standard Life.
Action: To note that all future contributions to Standard Life for CSAVCs, partnership and stakeholder pensions paid by BACS, direct credit, CHAPS and telegraphic transfers, should be paid to Standard Life’s new bank account.
Timing: From 1 September 2007
- On 1 September 2007 Standard Life will transfer their banking business to HSBC.
- Any payments made to Standard Life on or after 1 September 2007 by direct credit, BACS, CHAPS or telegraphic transfer must be paid into their new account. Details are: Name of account: The 'new' Standing Order Collections a/c Sort Code: 40-03-28: Account number: 22288192
- Standard Life will transfer existing payment details for those members paying by direct debit or standing order to the new bank account, so you do not need to take any action. Cheques paid to Standard Life will be banked at the time of receipt in the normal way. Cheques from Standard Life will be valid for the usual six month period.
- The existing bank accounts will be open for a limited time after 1 September. Standard Life will contact any payrolls who make payments to these accounts post 1 September 2007.
Please remember the new account details should NOT be used until 1 September 2007.
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Civil Service Pensions