Benefit Rates. The Council is pleased to confirm that with effect 1 January 2025 REOWS benefit rates will increase by 10%.  This increase will apply to both tax-free Lump Sums payable upon death and annuity payments to registered dependents (lifetime for spouse/partner and to the age of 21 for any dependent children). This increase is hot on he heels of the 10% increase in January 2022.

This means Lump Sums will increase from the current £4,400 per unit to £4,840 per unit and annuity payments from £495 per unit per annum to £545 per unit per annum. (The half lump sum payable to the estates of Members with no registered dependents will increase from £2,200 to £2,420 per unit).

All Beneficiaries already in receipt of annuities will benefit from both this and all future increases.

Subscription Rates. Subscription rates for new Members (aged 34 and over) and Members purchasing additional unit are to be increased from 1 January 2025 (the first increase since 2014). Those thinking about joining or increasing their unit holdings should therefore consider doing so over the next few days (and certainly before reaching their 34 and 43 year thresholds when new units become more expensive). The new rates are posted here.

Nominating Beneficiaries. For those Members without dependent beneficiaries it is now possible to nominate non-dependent beneficiaries to receive the half-lump sum in the event of your death.  Please email secretary@reows.co.uk with your nomination(s) (name, date of birth, relationship and email) at the earliest opportunity.

Do please apply via the website or email the Secretary at secretary@reows.co.uk.