Over recent months we have received an increased amount of requests to pay benefit claim payments electronically.

Members prefer this method of payment so that they can access their payment without having to wait for a cheque to arrive in the post, which they then have to lodge and then wait at least 5 days for it to clear.  This method of payment also suits Trustees as the payment is available to issue to the member much quicker. All of our AVC drawdowns were paid this year electronically and the feedback we received was very positive.

In light of this, going forward we are paying all Benefit Claims by EFT (Electronic Fund Transfer). If you do not want a payment made electronically it must be specified clearly when submitting benefit claim documentation.