Canada Life warns group life schemes of trust deadline

The deadline relates to registered stand-alone schemes established before 6 April 2006 (A-day) to ensure they meet the requirements of the Finance Act 2004. The Act required Trustees of these schemes to update the ways in which their scheme operated and provided a 5-year transitional period, in which to do so. That period ends on 5 April 2011. As the provider explains : "By then, Trustees, supported by their benefits advisers, should have reviewed their scheme to ensure there are no: • unintended benefit increases for scheme members; • unauthorised payments; or • un-insured liabi...