Is your Group Life Scheme fit for purpose?

Many employers (and their advisers) are failing to review and modernise their Group Life provision, especially given the budget announcement to abolish the Lifetime Allowance (LTA). Many schemes are unnecessarily complex, are carrying too much risk and are facing significant increases in cost.

Aspects to consider include: - registered v excepted schemes - lower ceasing age from 75 - remove eligibility based on pension membership - incorporate salary exchange into salary definition - utilise the insurer's master trust