1.         SOURCE 

Previously arranged by employers on the lives of employees purely on moral obligation. 

Now made compulsory by virtue of Section 9(3) of the Pension Reform Act 2004

 2.         COVER PROVIDED

An annually renewable term assurance product that provides for the payment of a predetermined sum on the death of any member of the scheme who is still in service within the policy year. 

The pre-determined sum is now a minimum of three times the employee's annual total emolument.

 3.         REQUIREMENTS FOR PLACEMENT 

i.                    List of names of employees with dates of
birth or age next birthday of each
proposed member of the scheme.