Code of Practice
15 April 2014
Michael Chatterton is bringing the experience of LawDeb Pension Trustees to bear on the development of a good practice guide. The guide seeks to formalise and enhance the scope of the industry’s standards in the use of medical underwriting as a factor in buy-ins.
The growing use of the health and lifestyle characteristics of individual pension scheme members in buy-ins has led to the development of a guide that will seek to ensure good practice in the area. It will highlight the potential benefits and risks inherent in the process whilst outlining what those involved can expect.
The guide is being developed by a panel of industry experts, chaired by Margaret Snowdon OBE, Director of JLT Employee Benefits; it includes insurers, advisers and trustees. The panel has already met over the past few months and expects to issue its guide before the end of June.
Upon being invited to join the panel Michael commented:
I was pleased to be asked to share our experience in this increasingly important sector of the market. The use of medical underwriting in buy-ins that help pension schemes to de-risk has already benefitted a number of clients of LawDeb Pension Trustees. I am confident that the good practice guide help provide practical support for others as they enter the market.