Benefit Design | Can you continue to offer benefit? |
| Life cover being provided under separate scheme | Yes (but the separate life cover only scheme will not be regarded as an “occupational pension scheme”) |
| Reliance on life cover only scheme to provide exemption from requirement to designate a stakeholder scheme | You must now offer stakeholder access |
| Life cover being provided under occupational pension scheme (where no other benefit provided) | No |
| Life cover being provided under a closed occupational pension scheme (to existing members with existing pension benefits) | Yes (“likely to be acceptable”) |
| Life cover being provided under a closed occupational pension scheme (to new members) | No |
| Life cover being provided under closed occupational pension scheme (where employer offers pension benefit through alternative vehicle) | Yes (provided “sufficient concrete and identifiable link through the employer”) |
| Life cover provided to member in waiting period | Yes (“likely to be acceptable”) |
| Life cover provided to member who has opted out of active membership | Yes (“likely to be acceptable”) |