“When requesting information by email, I have noticed that there is 'out of hours activity' to answer me. I regard this as a stand out 'above and beyond' - impressed.”
“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.”
“I found the trustee training really beneficial, highly recommended. I am not a trustee, I represent the employer and I think it will be valuable for me in future, having a better understanding of the trustees' perspective.”
“Very professional and engaged service.”
“PSIT offered the right support at very short notice, at reasonable cost, when we really needed it”
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:
Is this as good as it gets?
An overview of PSIT's trustee service for life-only trusts
Learn about how a PSIT master trust could help you
Read our trustee discretions briefing note