Housing briefing, December 2018 – SHPS DC section: life cover changes

SHPS have now announced details of how life cover will be paid for in future. They’ve also confirmed that the current 3 x multiple of salary life cover will no longer be compulsory. Employers now need to consider how they will fund life cover for their staff. This briefing goes through the changes underway and what they mean for employers.

First Actuarial case studies

Usdaw

Trade union Usdaw selected First Actuarial to transform its scheme administration, resulting in improved quality and time-cost savings.

Southern Co-op

First Actuarial's fiduciary management consultants guided the trustees of Southern Co-op through their provider review, delivering fee savings.

Oil and Gas Industry

Oil and gas company DB scheme wind-up resulted in generous transfers for members and £3m surplus for employer, with First Actuarial’s help.