Insurance against the unpredictable liability of early retirement payments
Ill health early retirement benefit
Designed to help companies de-risk, budget and plan ahead for the unpredictable liability of early retirement payments if a pension scheme member retires early due to permanent ill health.
A lump sum payment is made to the trustees of the pension scheme for each valid claim. The pension scheme trustees arrange for the ill health pension payments to be made to the member.
For policies of 100 active members or more
|Who can be insured?||
Active members of the pension scheme.
For cover, members can be grouped into separate categories and there can be different benefit basis between categories.
|What’s the maximum amount covered?||
|How long does cover last?||