“Excellent service - as expected and why PSIT was chosen.”
“So much more proactive than the previous company. On the ball - thinking in advance of things needing doing - very proactive.”
“They are very proactive and full of new ideas, they've brought better scheduling and better minute sets.”
“PSIT was chosen because of their knowledge of the subject and awareness of our particular schemes.”
“Ian has added more value than we thought he would at the start… which shows it pays to go with someone who is doing the job of a professional trustee as their bread and butter.”
“PSIT were overall more professional than others.”
Many employers use a life cover only trust to provide death in service benefits to employees, particularly those who are not members of a trust-based pension scheme. For employees affected by the pension lifetime allowance, an excepted life scheme can be used.
Exercising discretion over who should receive the benefit from a group life assurance or excepted life trust can be fraught with pitfalls. Take a look at our briefing note to see how Pensions Ombudsman rulings on death complaint cases show this can be a minefield.
Are you sure your group life and excepted life claims and discretion processes are effective and efficient, with:
Our master trust solution helps employers navigate a safe and cost effective path through the death in service benefit claims and discretions process. The benefits of using PSIT's group life master trust and excepted life master trust include:
Group life and excepted life assurance schemes come with compliance and governance issues that can lead to tax charges and Ombudsman complaints if not handled correctly.
PSIT's group life and excepted life master trusts provide a simple solution for employers to use to provide death benefits for all employees, including those affected by the pension lifetime allowance.
The PSIT master trust will help you:
To learn more about how a PSIT master trust could help you manage the risks and complexities of providing death benefits to some of your most valuable employees, please contact us or download our service flyers:
PSIT named Independent Trustee of the Year
An overview of PSIT's trustee service for life-only trusts
Learn about how a PSIT master trust could help you
An overview of PSIT and our services
Read our trustee discretions briefing note