Scottish Equitable has published a brochure for IFAs to serve as an introduction to the employee ben...
Scottish Equitable has published a brochure for IFAs to serve as an introduction to the employee benefits market. The brochure also aims to identify cross-selling opportunities for employee benefits packages with corporate clients post-stakeholder.
In addition, the brochure features two of Scottish Equitable's employee benefit products - the Corporate Protection menu and the Employee Protection menu.
Employee Benefits development manager, Sue Sneddon, said: "Employee benefits is set to become a major growth area for IFAs as a result of stakeholder pensions legislation - because of the changes to taxation of life policies and waiver."
ScotEq says the taxation changes being introduced for stakeholders will also affect group personal pensions (GPPs) which could lead to a substantial reduction in the level of potential payments that can be made towards risk benefits such as life assurance cover within a GPP. This, ScotEq suggests, could lead to a restriction in life cover for older employees.
The group claims the taxation changes could sway employees to rethink the risk benefits and set up a standalone employee benefits package - at least for new members - rather than deal with the complications of different rules applying to different employees.
IFAs can obtain a copy of the pack from their Scottish Equitable branch.
Paul Bruns and Elaine Parkes
3,000 left to transfer
Record numbers of people aged 90 plus
From 3 to 10 October