A relevant life?

Even if pensions are not your forte, there cannot be any advisers unaware of the fundamental ‘simplification’ changes brought about from A-Day in April 2006. However, unless the adviser was involved in the group risk market they may not have been aware of some of the changes that affected death in service benefits. Prior to A-Day, approved death in service provided up to four times salary at death plus a widow’s pension, but for post 1989 employees this salary was subject to the earnings cap. If you wanted to provide higher benefits then you needed an unapproved scheme but the cost of th...