Client feedback


​I enjoy working with PSGS and we have a very positive relationship. I was new to pensions and found them very helpful.
Bruce Allison,
RTUK
The trustee training was a very well-paced overview which gave opportunity to explore ideas and question more deeply at key points.
Paul Coley,
The Altro Pension and Life Scheme
Excellent service - as expected and why PSGS was chosen.
Stuart Barker ,
Independent Occupational Pensions Consultant, RSPCA
They have helped us save much more and created a cohesive plan to de-risk whilst building an integrated pension team.
Sally-Anne Borrill,
T-Systems
​Mike is a great secretary. He does a really good job for us.
Clare Cairns,
Campden BRI Group
Ever increasing regulation has placed a heavy burden on trustees both in terms of time and the risk of non-compliance. PSGS has the experience and the resources to help trustees manage these burdens.
Mark Atkinson,
Partner at CMS Cameron McKenna
image for Group life trustee | Death in service benefits | Master trust

Group & excepted life assurance schemes

Death in service benefit decisions can be complicated and personally difficult to make. Using PSGS as independent trustee to your group life or excepted life scheme relieves that burden and responsibility.

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:

  • the correct steps being taken at the correct time?
  • the right questions being asked of the right people?
  • all relevant information collected swiftly and accurately?
  • sensitive liaison with the individuals’ relatives?
  • claims administration and communications handled promptly and professionally?
PSGS life assurance master trusts

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 PSGS' group life master trust and excepted life master trust include:

  • peace of mind that difficult death in service benefit decisions are being handled by an experienced, independent professional
  • certainty your claims management process follows best practice guidelines
  • confidence that rational and non-conflicted decisions are being made
Why use a master trust for death in service benefits?

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.

PSGS' 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 PSGS master trust will help you:

  • ensure compliance and avoid periodic tax charges and exit tax charges
  • manage the risk of making improper decisions
  • remove the need to re-establish your excepted life assurance trust every time you change insurer

To learn more about how a PSGS 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:

PSGS group life master trust

PSGS excepted life master trust

Speak direct to our specialist in this area

Picture of James Double independent trustee at PSIT

James Double

Head of Trusteeship

Or call us on:

0845 313 0024

Read more

Blog

Is this as good as it gets?

Group life master trust

An overview of PSGS' trustee service for life-only trusts

Excepted life master trust

Learn about how a PSGS master trust could help you

Trustee discretions - payment of death benefits

Read our trustee discretions briefing note


Call: 0845 313 0024

online enquiry